Generation Scheduling Based on Two-Level Optimization Problem

I. A. Nechaev and S.I. Palamarchuk
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I. A. Nechaev: Energy Systems Institute, Siberian Branch of the Russian Academy of Sciences, Irkutsk, Russia
S.I. Palamarchuk: Energy Systems Institute, Siberian Branch of the Russian Academy of Sciences, Irkutsk, Russia

International Journal of Energy Optimization and Engineering (IJEOE), 2014, vol. 3, issue 1, 1-11

Abstract: A two-level problem for electricity generation scheduling in the wholesale market environment is proposed. The lower level of the problem corresponds to System Operator's (SO) efforts to schedule generation and calculate local marginal prices (LMPs) on the basis of total production cost minimization. The upper level corresponds to the profit maximization of each Generating Company (GC) with true cost functions and true generation ranges. The lower level of the problem is represented as a Mathematical Program with Equilibrium Constraints (MPEC). The problem is deemed solved, when the Nash equilibrium point is reached among strategic producers. The two-level optimization problem is formulated and the method for its solving is developed. A numerical example of a 15-bus Electric Power System (EPS) with thermal and hydro power plants is used to test the applicability of the approaches. The efficiency of the proposed approach is shown in comparison with traditional methods.

Date: 2014
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