since the emergence of power market, the target of power generating utilities has mainly switched from cost minimization to revenue maximization. they dispatch their power energy generation units in the uncertain environment of power market. as a result, multi-stage stochastic programming has been applied widely by many power generating agents as a suitable tool for dealing with self-scheduling...

We examine the economic consequences of a bid-based security-constrained centralized unit commitment paradigm based on three-part offers, which is the prevalent day-ahead market-clearing mechanism in restructured electricity markets in the United States. We then compare this approach with an energy-only auction with self-commitment (such as in Australia) addressing efficiency and pricing as wel...

From the optimization point of view, an optimum solution of the unit commitment problem with reliability constraints can be achieved when all constraints are simultaneously satisfied rather than sequentially or separately satisfying them. Therefore, the reliability constraints need to be appropriately formulated in terms of the conventional unit commitment variables. In this paper, the reli...

Ensuring the security and quality of supply in a power system after contingency event is one most challenging tasks for an electricity operator. This work initiated by this challenge proposes solution based on use provided reserves fast generators, storage devices, wind farms. A coordinated model proposed joint energy market considering their corresponding cost to ensure adequacy simultaneous d...

Considering the economics and securities for the operation of a power system, this paper presents a new adaptive dynamic programming approach for security-constrained unit commitment (SCUC) problems. In response to the “curse of dimension” problem of dynamic programming, the approach solves the Bellman’s equation of SCUC approximately by solving a sequence of simplified single stage optimizatio...

Recently, the provision of reserve from energy storage systems (ESSs) is introduced as a source for ancillary services to address uncertainties renewable power generations. The performance ESSs analysed while they are applied provider regulation reserves. It has been revealed that previous stochastic models neglect impact corrective dispatches, related reserves, on level stored in ESSs, which c...