In a deregulated electricity industry, competitive bidding for energy and reserve is increasingly gaining importance and playing a decisive role in maintaining system reliability. The transmission capacity limits have a significant impact on market cost, therefore these limits should also be considered while optimizing the joint dispatch. In this paper, a detailed comparison of classical differ...

It has been widely accepted that demand response will play an important role in reliable and economic operation of future power systems and electricity markets. Demand response can not only influence the prices in the energy market by demand shifting, but also participate in the reserve market. In this paper, we propose a full model of demand response in which demand flexibility is fully utiliz...

Stand-alone hybrid power plants based on renewable energy sources are becoming a more and interesting alternative. However, their management is complex task because there many variables, requirements restrictions as well wide variety of possible scenarios. Though proper sizing the plant necessary to obtain competitive cost energy, smart key guarantee supply at minimum cost. In this work, novel ...

This study addresses a stochastic structure for generation companies (GenCoʼs) that participate in hydro-thermal self-scheduling with a wind power plant on short-term scheduling for simultaneous reserve energy and energy market. In stochastic scheduling of HTSS with a wind power plant, in addition to various types of uncertainties such as energy price, spinning /non-spinning reserve prices, unc...

In an electricity market, every generation company (GENCO) attempts to maximize profit according to other participants bidding behaviors and power systems operating conditions. The goal of this study is to examine the optimal bidding strategy problem for GENCOs in energy and spinning reserve markets based on a hybrid GA-heuristic optimization algorithm. The heuristic optimization algorithm used...

This paper develops a modified economic dispatch (ED) optimization model with wind power penetration. Due to the uncertain nature of wind speed, both overestimation and underestimation of the available wind power are compensated using the up and down spinning reserves. In order to determine both of these two reserve demands, the risk-based up and down spinning reserve constraints are presented ...

This paper presents an efficient Water Evaporation Optimization algorithm (WEO) is proposed to solve a Dynamic Economic Dispatch problem (DED). The dynamic dispatch problem differs from the static economic dispatch problem by incorporating generator spinning reserve, ramp rate limits, and valve point loading and transmission losses. The proposed water evaporation optimization algorithm is based...

In this paper, a dynamic generation scheduling model is formulated, aiming at minimizing the costs of power generation and taking into account the constraints of thermal power units and spinning reserve in wind power integrated systems. A dynamic solving method blended with particle swarm optimization algorithm is proposed. In this method, the solution space of the states of unit commitment is ...

This paper presents a comprehensive framework model of a distribution company with security and reliability considerations. A probabilistic wind farm, which is a renewable energy resource, is modeled in this work. The requirement energy of distribution company can be either provided by distribution company’s own distributed generations or purchased from power market. Two reliability indices as ...