Optimization of electricity markets in the price based and security constrained unit commitment problems frameworks

Şahin, Cem
Operation of the electricity markets is subject to a number of strict and specific constraints such as continuous load-generation balance, security of supply, and generation technology related limitations. Contributions have been made to two important problems of the Electricity Markets, in the context of this study. In this study, Price Based Unit Commitment problem in the literature, which is a tool for the GENCO for operations planning, is extended considering the interdependencies between the Natural Gas (NG) and Electricity infrastructures and the uncertainty of Wind Power generation. The effect of the NG infrastructure physical limitations is considered via linearized NG transmission system equations, and the Wind energy sources and conventional generation resource uncertainties are simulated by Monte-Carlo simulations. The contribution of the forward energy Bilateral Contracts (BC), as a financial risk hedging tool is also included by modeling these in the proposed PBUC framework. In the case studies , it is observed that a GENCO could prevent its financial losses due to NG interruptions, by depositing only a portion of the midterm interrupted NG in the storage facilities. The Security Constrained Unit Commitment (SCUC) Problem is widely accepted tool in the industry which models the market clearing process. This study integrates two novelties to the SCUC problem; • A discrete demand response model to consider active participation of the consumers, • A hybrid deterministic/stochastic contingency model to represent the N-1 contingencies together with the uncertainties related with the wind power generation and system load. It is observed that the curtailment of available wind power capacity would enable the TSO to take corrective actions against occurrence of the contingencies and realization of the uncertainties in the most possible economical manner.


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Citation Formats
C. Şahin, “Optimization of electricity markets in the price based and security constrained unit commitment problems frameworks,” Ph.D. - Doctoral Program, Middle East Technical University, 2010.