This paper proposes a robust optimization model for optimal self scheduling of a hydro-thermal generating company. The proposed model is suitable for price taker Gencos which seeks the optimal schedule of its thermal and hydro generating units for a given operating horizon. The uncertainties of electricity prices are modeled using robust optimization approach to make it more practical. It consi...

In this paper, a new structure for reactive power market is presented. Considering reactive power losses caused by active power flow in the reactive power market is the main purpose of this paper. Hence, this study tries to improve reactive power market and create fair competition in reactive power generation.

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...

All decisions about investments in new generation, transmission, distributed energy resources and load management are based on expectations about future market conditions. This paper develops an analytical framework for evaluating forward contracts and investment decisions under the assumption that firms are risk averse. A fixed price/fixed quantity delivery contract forms the basis for the por...

Modeling of Utility Distribution Feeder in OpenDSS and Steady State Impact analysis of Distributed Generation Vaidyanath Ramachandran, Master of Science in Electrical Engineering, West Virginia University Dr. Sarika Khushalani Solanki, Ph.D., Chair With the deregulation of the electric power industry and the advancement of new technologies, the attention of the utilities has been drawn towards ...

As a matter of course, power market uncertainties escalation is by product of power industry restructure on one hand and the unrivalled penetration of renewable energies on the other. Generally, the decision making process in such an uncertain environment faces with different risks. In addition, the performance of real power markets is very close to oligopoly markets, in which, some market play...

This paper proposes a method for determining the price bidding strategies of market participants consisting of Generation Companies (GENCOs) and Distribution Companies (DISCOs) in a day-ahead electricity market, while taking into consideration the load forecast uncertainty and demand response programs. The proposed algorithm tries to find a Pareto optimal point for a risk neutral participan...

Due to increasing concern over global warming, the penetration of renewable energy in power systems is day by day. Gencos that traditionally focused only on maximizing their profit competitive market are now also focusing operation with minimum pollution level. The paper proposes a multiobjective model capable finding set trade-off solutions for joint optimization problem, considering cost rese...

abstract efficacy of encouraging and punishing policies of government in different markets is related to market power. study of market behavior is also important for efficient structuring of tools such as commodity exchanges and cooperatives. in this study, market power structure of pistachio domestic market in iran was investigated. sample was 343 pistachio producers and 252 pistachio traders ...

arbitrage is a known economic term, implying simultaneous transaction on commodities. for instance, a generation company (genco) may involve itself in selling fuel, emission allowance and etc., instead of generating either active or reactive power. moreover, arbitrage between active and reactive powers can, in turn, be considered. in this paper, arbitrage between active and reactive power is c...