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In this paper, Nash equilibriums of generation markets are investigated using a game theory application for simplified competitive electricity markets. The characteristic of equilibrium states in N-company spot markets modelled by uniform pricing auctions is analyzed and a new method for obtaining Nash equilibriums of the auctions is proposed. Spot markets are assumed to be operated as uniform ...

With the advent of restructuring in power industry, conventional unit commitment problem systems, involving minimization operation costs a traditional vertically integrated system structure, has been transformed to profit-based (PBUC) approach, whereby generation companies (GENCOs) perform scheduling available production units with aim profit maximization. Generally, GENCO solves PBUC for parti...

As companies outsource more manufacturing and design responsibilities to external vendors and therefore become less vertically integrated, the role of supply chain management becomes increasingly complex. Its role is particularly difficult when product generation follows a serial process flow, with the supply chain function residing at the end and where it inherits poorly defined supplier relat...

In this paper an application of a combined method for the profit based unit commitment problem (PBUC) using Genetic Algorithm and Lagrangian Relaxation (LR) is presented. The algorithm is proposed to solve PBUC under deregulated environment with the objective of maximizing GENCO’s profit and minimizing the operating cost. The problem formulation of the unit commitment takes into consideration t...