Security-Constrained Optimal Generation Scheduling for GENCOs

Self-scheduling of a power generating company: Carbon tax considerations

“…(5) and (6) indicate that there is no need to meet the forecasting load and spinning reserves of the system in the scheduling period, unless more profits could be produced. The satisfaction of the system load and reserve remains the responsibility of the independent system operator (ISO, see [25]). Eq.…”

Optimal dynamic economic dispatch of generation: A review

“…The proposed algorithm determines the optimal amounts of power and reserve to be sold into the energy and spinning reserve markets. Yamin et al [61] proposed an approach based on the Benders decomposition and the predictor-corrector primal-dual IP to solve the security constrained PBDED. In [61] spinning reserve requirements were not considered.…”

“…Yamin et al [61] proposed an approach based on the Benders decomposition and the predictor-corrector primal-dual IP to solve the security constrained PBDED. In [61] spinning reserve requirements were not considered. Lee et al [62] proposed a price-based ramp rate model for the application to the price-based dynamic dispatch.…”

Risk constraint profit maximization in a multi-electricity market

“…Various researches have been done on bidding strategies of generators for optimal allocation of its schedule [2][3][4]. Up to now, research work on risk analysis of generator is mainly for traditional power system [5][6][7][8][9] and limited work has been done in the new environment involving ancillary services [10][11].…”

“…References [2][3] discuss the bidding strategy of the generator with incomplete information about producers. Profit maximization of generator based on hourly bid curves, where the firm's profit is based on the forecasted Locational Marginal Price (LMP), is given in [4]. Ni et al [5] presents an optimization algorithm for integrated bidding strategy for both energy and reserve.…”