Price based unit commitment with reserve considerations

Okuşluğ, Ali
In electricity markets of modern electric power systems, many generation companies, as major market participants, aim to maximize their profits by supplying the electrical load in a competitive manner. This thesis is devoted to investigate the price based unit commitment problem which is used to optimize generation schedules of these companies in deregulated electricity markets. The solution algorithm developed is based on Dynamic Programming and Lagrange Relaxation methods and solves the optimization problem for a generation company having many generating units with different cost characteristics. Moreover, unit constraints including ramp-rate limits, minimum ON/OFF times, generation capacities of individual units and system constraints such as total energy limits, reserve requirements are taken into account in the problem formulation. The verification of the algorithm has been carried out by comparing the results of some sample cases with those in the literature. The effectiveness of the algorithm has been tested on several test systems. Finally, the possible utilization of the method by a generation company in Turkish Electricity Market to develop bidding strategies is also examined based on some case studies.


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Citation Formats
A. Okuşluğ, “Price based unit commitment with reserve considerations,” M.S. - Master of Science, Middle East Technical University, 2013.