Modified Genetic Algorithm for the Profit-Based Unit Commitment Problem in Competitive Electricity Market

Lucas Santiago Nepomuceno (), Layon Mescolin de Oliveira, Ivo Chaves da Silva Junior, Edimar José de Oliveira and Arthur Neves de Paula
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Lucas Santiago Nepomuceno: Department of Electrical Energy, Federal University of Juiz de Fora, Juiz de Fora 36036-900, Brazil
Layon Mescolin de Oliveira: Department of Electrical Energy, Federal University of Juiz de Fora, Juiz de Fora 36036-900, Brazil
Ivo Chaves da Silva Junior: Department of Electrical Energy, Federal University of Juiz de Fora, Juiz de Fora 36036-900, Brazil
Edimar José de Oliveira: Department of Electrical Energy, Federal University of Juiz de Fora, Juiz de Fora 36036-900, Brazil
Arthur Neves de Paula: Department of Electrical Energy, Federal University of Juiz de Fora, Juiz de Fora 36036-900, Brazil

Energies, 2023, vol. 16, issue 23, 1-22

Abstract: This article proposes a solution to the Profit-Based Unit Commitment (PBUC) problem to maximize the profit of a power generation company that owns thermal units and compressed air energy storage (CAES) systems, considering the Day-Ahead market. The proposed methodology is more realistic as it considers a mixed-integer nonlinear formulation of the PBUC. The problem is solved through two stages, with Stage 1 dedicated to obtaining the operational state of the generating units (On or Off) and the operation mode of the storage system (energy exchange: charging, discharging, idle). Stage 2 determines the dispatch of power from the thermoelectric units and the energy exchange in the storage system. The analysis of the system consisting of 20 thermoelectric units and three storage systems shows the efficiency of the proposed method in making decisions for the power generation company and is therefore promising for real-world applications.

Keywords: profit-based unit commitment; compressed air energy storage; day-ahead energy market; hybrid optimization; genetic algorithm (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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