Generation profit optimal models for trust transactions

Two models for trust transaction are presented in this paper. Trust transaction comes into being when there are transmission congestion and unit faults. Trust transactions provide generators with higher marginal costs more chances to put into the network for generation, and trust transactions are one of main measure for solving the problem of transmission congestion and unit faults. Generators can bid in four markets proposed in this paper, which are power market, reserve market, sharp-load market and trust market respectively. The market prices of trust market are always the same as the previous contracts, so that some generators with greater marginal costs can acquire much more revenue in the trust market to maximize their generation profits. The proposed models have been tested with a study case and some computation results have been demonstrated.