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Profit-based unit commitment problem: A review of models, methods, challenges, and future directions

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  • Abdi, Hamdi

Abstract

The unit commitment problem is one of the most significant and basic issues in the monitor, control, and operation of modern power systems, which has always been a subject of great concern to researchers and operators as the most extensive human-made system. Before restructuring, one of the main objectives of unit commitment problem was the minimization of the total operation cost of power plants subject to various constraints, including unit and network ones. As the privatization and restructuring process became more serious, the primary purpose of the unit commitment problem has been changed to maximizing the total profit, which led to the emergence of a new concept known as profit-based unit commitment problem. Accordingly, the maximization of the profit for generation companies, all over the studied period, is a top-priority direction. This paper presents a comprehensive overview of the profit-based unit commitment problem in restructured power systems by investigating the most important studies on this topic and providing a complete classification. It also outlines the challenges facing researchers in this field, offers new insights, and suggests future directions.

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  • Abdi, Hamdi, 2021. "Profit-based unit commitment problem: A review of models, methods, challenges, and future directions," Renewable and Sustainable Energy Reviews, Elsevier, vol. 138(C).
    • Handle: RePEc:eee:rensus:v:138:y:2021:i:c:s1364032120307905
    DOI: 10.1016/j.rser.2020.110504
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    References listed on IDEAS

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    Cited by:

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    2. Lei, Kaixuan & Chang, Jianxia & Wang, Xuebin & Guo, Aijun & Wang, Yimin & Ren, Chengqing, 2023. "Peak shaving and short-term economic operation of hydro-wind-PV hybrid system considering the uncertainty of wind and PV power," Renewable Energy, Elsevier, vol. 215(C).
    3. Diaa Salman & Mehmet Kusaf, 2021. "Short-Term Unit Commitment by Using Machine Learning to Cover the Uncertainty of Wind Power Forecasting," Sustainability, MDPI, vol. 13(24), pages 1-22, December.
    4. Haiyan Zheng & Liying Huang & Ran Quan, 2023. "Mixed-Integer Conic Formulation of Unit Commitment with Stochastic Wind Power," Mathematics, MDPI, vol. 11(2), pages 1-16, January.
    5. Lucas Santiago Nepomuceno & Layon Mescolin de Oliveira & Ivo Chaves da Silva Junior & Edimar José de Oliveira & Arthur Neves de Paula, 2023. "Modified Genetic Algorithm for the Profit-Based Unit Commitment Problem in Competitive Electricity Market," Energies, MDPI, vol. 16(23), pages 1-22, November.
    6. Ying-Yi Hong & Gerard Francesco DG. Apolinario, 2021. "Uncertainty in Unit Commitment in Power Systems: A Review of Models, Methods, and Applications," Energies, MDPI, vol. 14(20), pages 1-47, October.
    7. Zhao, Ning & You, Fengqi, 2022. "Sustainable power systems operations under renewable energy induced disjunctive uncertainties via machine learning-based robust optimization," Renewable and Sustainable Energy Reviews, Elsevier, vol. 161(C).
    8. Hamdi Abdi, 2023. "A Survey of Combined Heat and Power-Based Unit Commitment Problem: Optimization Algorithms, Case Studies, Challenges, and Future Directions," Mathematics, MDPI, vol. 11(19), pages 1-36, October.
    9. Hamdi Abdi, 2022. "A Brief Review of Microgrid Surveys, by Focusing on Energy Management System," Sustainability, MDPI, vol. 15(1), pages 1-20, December.

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