Ancillary services are support services which are essential for humanizing and enhancing the reliability and security of the electric power system. Reactive power ancillary service is one of the important ancillary services in a restructured electricity market which determines the cost of supplying ancillary services and finding of how this cost would change with respect to operating decisions....

This paper presents a methodology based on Fuzzy Adaptive Particle Swarm Optimization (FAPSO) for the preparation of optimal bidding strategies corresponding unit commitment by Generation companies (Gencos) in order to gain maximum profits in a day-ahead electricity market. In a competitive electricity market with limited number of suppliers, Gencos are facing an oligopoly market rather than a ...

This paper proposes an agent-based computational model of the Italian wholesale electricity market where Generation Companies (GenCos) sign forward contracts and then accordingly submit bids in a Day-Ahead spot Market (DAM). The DAM clearing mechanism considers realistic physical constraints of the Italian high-voltage transmission network, thus determining realistic zonal market prices. The gl...

The electric power industry need changes in various power system operation, control and planning activities. Generation companies (GENCOs) schedule their generators with an objective to maximize their own profit rather than compromising on social benefit. Power and reserve prices become important factors in decision process. GENCOs decision to commit generating units is associated with financia...

In this paper, an optimal scheduling of thermal and wind power plants is presented by using a stochastic programming approach to cover the uncertainties of the forecasted generation of wind farms. Uncertainties related to wind forecast error, consequently wind generation outage power and also system load demand are modeled through scenario generation. Then, with regard to day-ahead and real-tim...

For Generation Companies (GENCOs) one of the most relevant issue is the commitment of the units, the scheduling of them over a daily (or longer) time frame, with the aim of obtaining the best profit. It strongly depends on the plant operational generation costs, which depend in turn on the choices taken at the design stage; it follows that design technical choices should also aim at determining...

In this paper, Genetic Algorithm is used to solve the profit based unit commitment for deregulated power system in order to achieve optimal generation schedule and maximum profit of GENCOS. Deregulation of power system means unbundling of vertically integrated power system into generation, transmission and distribution companies. This proposed algorithm or approach is tested on IEEE-30 bus syst...

This paper describes use of a new approach to solve multi-period multi-objective optimization of generation expansion planning problem in deregulated power systems over a long term planning horizon. Traditionally, the objective in undertaking aGeneration Expansion Planning (GEP) process has been tominimize the expected sum of yearly discounted costs(incorporate i.e., construction costs, operati...

To ensure the reliability of power systems, independent system operator (ISO) manages planning process maintenance generation units for companies (GENCOs). This paper focuses on a widely studied two-layer long-term predictive decision making framework in deregulated environment. In first layer ISO-wide schedule is optimized GENCOs, targeting minimal total cost and degradation statuses. second l...

In a deregulated power market, the optimum power flow (OPF) for an interconnected grid system is an important concern as related to transmission loss and operating constraints of power network. The increased power transaction as related to increased demand and satisfaction of those demand to the competition of generation companies (GENCOs) are resulting the stress on power network which further...