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2012 (Vol. 4, Issue: 06)
Article Information:

Optimized Self Scheduling of Power Producers in a Restructured Power Market

F. Gharedaghi, M. Deysi, H. Jamali and A. khalili
Corresponding Author:  F. Gharedaghi 

Key words:  Bidding strategies, lagrangian relaxation, self-scheduling, , , ,
Vol. 4 , (06): 581-586
Submitted Accepted Published
2011 September, 23 2011 October, 24 2012 March, 15
Abstract:

Generation scheduling and dispatch are determined by individual power producers’ bids in a deregulated power market. The benefits obtained by a power producer will depend largely on how effectively it can incorporate the variation of the market price in its generation scheduling. This paper addresses the selfscheduling problem and design of optimal bidding strategy for a price-taker company. By restructuring the electric power systems, market participants are facing an important task of bidding energy to an Independent System Operator (ISO). This study proposes a model and a method for optimization-based bidding and selfscheduling where a utility bids part of its energy and self-schedules the rest. The model considers ISO bid selections and uncertain bidding information of other market participants. With appropriately simplified bidding and ISO models, closed-form ISO solutions are first obtained. These solutions are then plugged into the utility’s bidding and self-scheduling model which is solved by using Lagrangian relaxation. Testing results depicts that the method has effective solutions with acceptable computation time.
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  Cite this Reference:
F. Gharedaghi, M. Deysi, H. Jamali and A. khalili, 2012. Optimized Self Scheduling of Power Producers in a Restructured Power Market.  Research Journal of Applied Sciences, Engineering and Technology, 4(06): 581-586.
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ISSN (Online):  2040-7467
ISSN (Print):   2040-7459
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