GENCOs portfolio management using “STRATEGIST” in deregulated power markets

Author

Yamin, H.Y. ; Finney, J.D. ; Rutz, W. ; Holly, H.

Author_Institution

EIS Dept, ABB, Raleigh, NC, USA

fYear

2001

fDate

2001

Firstpage

12

Lastpage

17

Abstract

STRATEGIST is a software package that is coded in FORTRAN and C++ for GENCOs´ portfolio management in deregulated power markets utilizing COUGER which is a unit commitment software package coded in FORTRAN for profit maximization. STRATEGIST incorporates a probabilistic approach for the evaluation of composite reliability of generation, load forecast and fuel prices using different probability distributions. STRATEGIST analyses the risk in an uncertain power market. This package is to be used by GENCOs to maximize their profit as well as to hedge the GENCOs to against crucial loss of profit. A typical scenario for applying this package is a GENCO which tries to supply its native load and trade bilateral transactions and would be interested in determining the risk associated with different alternatives. STRATEGIST is designed based on a comprehensive analysis of various risks in a portfolio

Keywords

electricity supply industry; management information systems; power generation dispatch; power generation scheduling; power system economics; power system reliability; risk management; software packages; C++; COUGER unit commitment software package; FORTRAN; GENCOs; STRATEGIST software package; bilateral transactions; composite reliability evaluation; deregulated power markets; generating companies; portfolio management IS; probabilistic approach; profit maximization; risk analysis; Contracts; Energy management; ISO; Job shop scheduling; Packaging; Portfolios; Power markets; Power system modeling; Risk analysis; Software packages;

fLanguage

English

Publisher

ieee

Conference_Titel

Power Engineering, 2001. LESCOPE '01. 2001 Large Engineering Systems Conference on

Conference_Location

Halifax, NS

Print_ISBN

0-7803-7107-0

Type

conf

DOI

10.1109/LESCPE.2001.941618

Filename

941618