This paper presents an incentive based smart dynamic pricing scheme for consumers facilitating a hierarchical scoring mechanism. This mechanism is applied between consumer agents (CA) to electricity provider agent (EP) and EP to Generation Company (GENCO). Based on the Continuous Ranked Probability Score (CRPS), a hierarchical scoring system is formed among these entities. As CA receives the dy...

Defining appropriate pricing strategy for smart environment is important and complex task at the same time. It holds the primal fraction in Demand Response (DR) program. In our work, we devise an incentive based smart dynamic pricing scheme for consumers facilitating a multi-layered scoring rule. The proposed strategy characterizes both incentive based DR and price based DR programs facilities....

This paper proposes a multi-objective bidding strategy for a generation company (GenCo) in a day-ahead uniform price spot market using non-dominated sorting particle swarm optimisation (NSPSO). NSPSO is introduced to solve the multi-objective strategic bidding problem considering expected profit maximisation and risk (profit variation) minimisation. Monte Carlo (MC) simulation is employed to si...

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...

This paper proposes an Artificial Bee Colony (ABC) algorithm to Generator Maintenance Scheduling (GMS) in competitive market. In the regulated market the problem of generating optimal maintenance schedules of generating units for the purpose of maximizing economic benefits and improving reliable operation of a power system, subject to satisfying system constraints. In case of deregulated market...

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...

0957-4174/$ see front matter 2011 Elsevier Ltd. A doi:10.1016/j.eswa.2011.05.015 ⇑ Corresponding author. Tel.: +98 21 88021067; fax E-mail addresses: [email protected], [email protected] This paper presents a new approach for bidding strategy in a day-ahead market from the viewpoint of a generation company (GENCO) in order to maximize its own profit as a participant in the market. It is assumed tha...

& This article proposes optimal bidding strategies for a generation company (GenCo) considering risk of profit variation by self-organizing hierarchical particle swarm optimization with time-varying acceleration coefficients (SPSO-TVAC). Based on a trade-off technique, the expected profit maximization and risk minimization are achieved. Nonconvex operating cost functions of thermal generation u...

This paper analyses the financial implications, from point of view an investor in renewable energy, which sells energy for uncertain price electricity and decides to take advantage Colombian tax policy over energy. The policy, known as Investment Tax Allowance (ITA), encourages installation projects a country traditionally dominated by hydro power. Price is modeled non-stationary autoregressive...