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

Author

Listed:
  • 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)

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.

Suggested Citation

  • 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.
    • Handle: RePEc:gam:jeners:v:16:y:2023:i:23:p:7751-:d:1286926
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    References listed on IDEAS

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    1. Mostafa Nasouri Gilvaei & Mahmood Hosseini Imani & Mojtaba Jabbari Ghadi & Li Li & Anahita Golrang, 2021. "Profit-Based Unit Commitment for a GENCO Equipped with Compressed Air Energy Storage and Concentrating Solar Power Units," Energies, MDPI, vol. 14(3), pages 1-20, January.
    2. Akbari, Ebrahim & Hooshmand, Rahmat-Allah & Gholipour, Mehdi & Parastegari, Moein, 2019. "Stochastic programming-based optimal bidding of compressed air energy storage with wind and thermal generation units in energy and reserve markets," Energy, Elsevier, vol. 171(C), pages 535-546.
    3. 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).
    4. Budt, Marcus & Wolf, Daniel & Span, Roland & Yan, Jinyue, 2016. "A review on compressed air energy storage: Basic principles, past milestones and recent developments," Applied Energy, Elsevier, vol. 170(C), pages 250-268.
    5. Anand, Himanshu & Narang, Nitin & Dhillon, J.S., 2018. "Profit based unit commitment using hybrid optimization technique," Energy, Elsevier, vol. 148(C), pages 701-715.
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    Cited by:

    1. Lefeng Cheng & Mengya Zhang & Pengrong Huang & Wentian Lu, 2024. "Game-Theoretic Approaches for Power-Generation Companies’ Decision-Making in the Emerging Green Certificate Market," Sustainability, MDPI, vol. 17(1), pages 1-53, December.

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