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Abstract
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Article Information:
Stochastic Electric Power Generation Unit Commitment in Deregulated Power Market Environment
F. Gharehdaghi, H. Jamali, M. Deysi and A. Khalili
Corresponding Author: F. Gharehdaghi
Submitted: 2011 September, 14
Accepted: 2011 October, 15
Published: 2012 March, 01 |
Abstract:
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Utilities participating in deregulated markets observe increasing uncertainty in load (i.e., demand
for electric power) and prices for fuel and electricity on spot and contract markets. This study proposes a new
formulation of the unit commitment problem of electric power generators in a restructured electricity market.
Under these conditions, an electric power generation company will have the option to buy or sell from a power
pool in addition to producing electricity on its own. The unit commitment problem is expressed as a stochastic
optimization problem in which the objective is to maximize expected profits and the decisions are required to
meet the standard operating constraints. Under the assumption of competitive market and price taking, it is
depicted that the unit commitment schedule for a collection of N generation units can be solved by considering
each unit separately. The volatility of the spot market price of electricity is represented by a stochastic model.
This paper uses probabilistic dynamic programming to solve the stochastic optimization problem pertaining
to unit commitment. It is shown that for a market of 150 units the proposed unit commitment can be accurately
solved in a reasonable time by using the normal, Edgeworth, or Monte Carlo approximation methods.
Key words: Dynamic voltage compensator, reactive compensation, voltage and energy enhancement, wind energy conversion system, , ,
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Cite this Reference:
F. Gharehdaghi, H. Jamali, M. Deysi and A. Khalili, . Stochastic Electric Power Generation Unit Commitment in Deregulated Power Market Environment. Research Journal of Applied Sciences, Engineering and Technology, (05): 439-445.
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ISSN (Online): 2040-7467
ISSN (Print): 2040-7459 |
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