Capacity withholding of GenCos in electricity markets using security-constrained generation maintenance scheduling

Salarkheili, Saeed; Nazar, Mehrdad Setayesh; Wozabal, David; Jabari, Farkhondeh

doi:10.1016/j.ijepes.2022.108771

Cited by 7 publications

(5 citation statements)

References 39 publications

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“…The values of 28, 35, and 40 USD/ton are from [3][4][5], respectively. The values of 29,30,31,32,33,34,36,37,38, and 39 USD/ton are specifically chosen by the authors. It is expected that the models can still benefit GenCos when the emission cost coefficient is not constant.…”

Section: Numerical Resultsmentioning

confidence: 99%

“…The GMS problem was proposed to maximize the profit and social welfare of GenCos and independent system operator (ISO), respectively, in oligopolistic markets. The withholding capacity based on the wealth transfer index and relative welfare loss index was adapted to solve the model [30]. Several GenCos use GMS to maximize their revenue, whereas an ISO runs the market with the minimum electricity price.…”

Section: Introductionmentioning

confidence: 99%

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Optimizing Generation Maintenance Scheduling Considering Emission Factors

Prukpanit,

Kaewprapha,

Leeprechanon

2023

Energies

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Conventional generation maintenance scheduling (GMS) is a solution to increase the reliability of power systems and minimize the operation and maintenance costs paid by generation companies (GenCos). Nonetheless, environmental aspects, such as zero carbon emissions, have attracted global attention, leading to emission costs being paid by electricity generators. Therefore, to obtain GMS plans that consider these factors, this paper proposes multi-objective GMS models to minimize operation, maintenance, and emission costs by using lexicographic optimization as a mathematical tool. A demand response program (DRP) is also adapted to decrease emission generation and operational expenditures. The probability that no generation unit (GU) fails unexpectedly and the average net reserve value, comprising the system reliability with and without considering the GU failure rate, are demonstrated. Numerical examples are implemented for the IEEE 24-bus reliability test system. A GMS algorithm presented in a published work is run and compared to verify the robustness of the proposed GMS models. Our results indicate that this paper provides comprehensive approaches to the multi-objective GMS problem focusing on operation, maintenance, carbon, and DRP costs in consideration of technical and environmental aspects. The use of lexicographic optimization allows for the systematic and hierarchical consideration of these objectives, leading to significant benefits for GenCos.

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Section: Numerical Resultsmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Optimizing Generation Maintenance Scheduling Considering Emission Factors

Prukpanit,

Kaewprapha,

Leeprechanon

2023

Energies

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“…According to [10], electrical equipment's entire lifespan is well utilized effectively, until when failure occured used. As a result, the power supply to clients may be interrupted, and there is a risk of safety, health, and environmental (SHE) impacts due to random breakdowns.…”

Section: Related Workmentioning

confidence: 99%

Analysing Effective and Ineffective Impacts of Maintenance Strategies on Electric Power Plants: A Comprehensive Approach

Al Ameeri,

Ab Rahman,

Muhamad

2023

Energies

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The maintenance strategy used in an electric power plant plays a crucial role in its overall performance and operational efficiency. An effective maintenance strategy describes the approach to exploiting various forms of maintenance (corrective, preventive, predictive, proactive, etc.) in an electric power plant. In this paper, the effective and ineffective impacts of maintenance strategies on power plants were examined. Also, the distinction between corrective, preventive, and aggressive maintenance was considered. In terms of effective impacts, a well-designed and executed maintenance strategy enhances the reliability and availability of the electric power plant by minimising unplanned downtime. It extends the lifespan of critical equipment, improves safety measures, increases energy efficiency, and contributes to long-term cost savings. However, in terms of ineffective impacts, poorly planned or executed maintenance strategies can result in increased downtime, higher repair costs, safety risks, decreased efficiency, and regulatory compliance issues. Neglecting maintenance can lead to equipment failures, reduced productivity, and potential environmental incidents.

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“…This trade-off should be properly balanced by the generation company [63]. Physical withholding and its implications are demonstrated in Figure 37 [70]. The right supply curve line represents the actual supply curve (corresponding to a truthful report of its generation capacity) of a strategic generation company 𝑖, while the left supply curve represents the supply curve reported in its bid; this is moved to the left as the company offers less than its actual capacity to the market.…”

Section: Bidding Strategymentioning

confidence: 99%

“…1.8 Studying the VRE impact mitigation from both the electrical systems' side [18,35,68,69], i.e., enhancing the flexibility of existing power plants, and the markets' side, i.e., bidding strategies [36][37][38][39][70][71][72][73].…”

mentioning

confidence: 99%

Impact analysis of variable renewable energy integration on total system costs and electricity generation revenue and impact mitigation

Imcharoenkul

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Variable renewable energy (VRE) integration creates additional costs, called integration costs. These costs have grown with VRE penetration, potentially increasing the total system costs delivered to customers (direct integration costs) and decreasing electricity generation revenue, discouraging investment by generators (indirect integration costs). Thus, integration costs can serve as an economic barrier to the integration of high VRE shares. The main objective of this dissertation is to propose a novel method of determining the impacts of VRE integration on total system costs and electricity generation revenue. With this method, the optimal generation mix and optimal generation schedules at the specific VRE penetration level in different study cases were provided.�The impacts of VRE integration on total system costs and electricity generation revenue were highlighted, alongside the direct and indirect integration costs.�Moreover, the profitability of electricity generation was evaluated. Aside from its main objective, this dissertation more comprehensively includes assessments�of VRE impact mitigation through enhancing the flexibility of existing power plants and the use of a bidding strategy.�To determine VRE-relevant plans and policies, electrical system planners and policymakers must prioritize the severity of integration costs grown with VRE penetration, which impacts total system costs and electricity generation revenue. Both energy markets and capacity mechanisms are crucial for the profitability of generators. Moreover, system planners and policymakers could consider several ways to mitigate the impact of VRE integration. For one, enhancing system flexibility�decreases the total system cost. Second, bidding strategies could also help generators manage energy market challenges.�

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Capacity withholding of GenCos in electricity markets using security-constrained generation maintenance scheduling

Cited by 7 publications

References 39 publications

Optimizing Generation Maintenance Scheduling Considering Emission Factors

Optimizing Generation Maintenance Scheduling Considering Emission Factors

Analysing Effective and Ineffective Impacts of Maintenance Strategies on Electric Power Plants: A Comprehensive Approach

Impact analysis of variable renewable energy integration on total system costs and electricity generation revenue and impact mitigation

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