Title :
Fuzzy self-scheduling for GenCos
Author_Institution :
Dept. of Power Eng., Yarmouk Univ., Irbid, Jordan
Abstract :
This letter presents a comprehensive fuzzy approach for maximizing a GenCo´s profit in a competitive electricity market considering uncertainties. The market uncertainties considered are the demand, spinning and nonspinning reserves, market prices, and probability that reserves are called and generated. The proposed technique produces an optimal profit fuzzy function that reflects the market uncertainties and helps for hedging risks.
Keywords :
fuzzy set theory; power generation economics; power generation scheduling; power markets; risk management; GenCo; competitive electricity market; fuzzy self-scheduling; market uncertainty; power generation company; Cost function; Economic forecasting; Electricity supply industry; Fuzzy set theory; Fuzzy sets; Mixed integer linear programming; Power system control; Power system planning; Spinning; Uncertainty;
Journal_Title :
Power Systems, IEEE Transactions on
DOI :
10.1109/TPWRS.2004.836176
