Optimal bidding in emission constrained economic dispatch

Palit, D.; Chakraborty, Nilanjan

doi:10.1007/s13762-018-2160-6

Cited by 7 publications

(6 citation statements)

References 32 publications

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“…The second type of modeling analyzes the influence of environmental considerations-nitrogen oxides (NO x ), sulfur oxides (SO 2 ), and carbon dioxide (CO 2 ) emission limits of the GenCoson the unilateral generation-side bidding strategy problem within energy-only electricity markets. [18][19][20][21][22][23] In Peng et al, 18 the impact of emission compliance is investigated on the strategic behavior and profitability of the GenCos in a uniform electricity market by considering market power. In this formulation, a single-level model using only one strategic coefficient is employed, ignoring the transmission security constraints and loss considerations.…”

Section: Background and Motivationmentioning

confidence: 99%

“…In this scheme, the NO x and SO 2 emission restrictions of the GenCos and technical measures are overlooked. In Palit and Chakraborty, 23 a single-level, game-based dominance approach is represented for assessing the effect of the NO x and SO 2 emission limits on the strategic behavior of the GenCos within a uniform electricity market. The game-based dominance approach, as explained in Palit and Chakraborty, 23 is a simple equilibrium search method in which the strategic behavior of only one GenCo is modeled, regardless of the bidding situation of rivals.…”

Section: Background and Motivationmentioning

confidence: 99%

“…In Palit and Chakraborty, 23 a single-level, game-based dominance approach is represented for assessing the effect of the NO x and SO 2 emission limits on the strategic behavior of the GenCos within a uniform electricity market. The game-based dominance approach, as explained in Palit and Chakraborty, 23 is a simple equilibrium search method in which the strategic behavior of only one GenCo is modeled, regardless of the bidding situation of rivals. The third type of modeling solves the unilateral generation-side bidding strategy problem within joint energy and reserve electricity markets.…”

Section: Background and Motivationmentioning

confidence: 99%

“…Similarly, the SO 2 and CO 2 emissions are tied to fuel consumption. In the lower-level problem, then, the NO x emission function is applied as an exponential function, and the SO 2 and CO 2 emission functions are implemented as polynomial functions, as formulated in equations ( 21) through (23), respectively. The fifth term of equation (19) expresses the expected profit functions of the DisCos in the day-ahead electricity markets.…”

Section: Lower-level Problem: Joint Day-ahead Energy and Reserve Elec...mentioning

confidence: 99%

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Bilateral bidding strategy in joint day-ahead energy and reserve electricity markets considering techno-economic-environmental measures

Shivaie

Kiani-Moghaddam

Weinsier

2021

Energy & Environment

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In this study, a new bilateral equilibrium model was developed for the optimal bidding strategy of both price-taker generation companies (GenCos) and distribution companies (DisCos) that participate in a joint day-ahead energy and reserve electricity market. This model, from a new perspective, simultaneously takes into account such techno-economic-environmental measures as market power, security constraints, and environmental and loss considerations. The mathematical formulation of this new model, therefore, falls into a nonlinear, two-level optimization problem. The upper-level problem maximizes the quadratic profit functions of the GenCos and DisCos under incomplete information and passes the obtained optimal bidding strategies to the lower-level problem that clears a joint day-ahead energy and reserve electricity market. A locational marginal pricing mechanism was also considered for settling the electricity market. To solve this newly developed model, a competent multi-computational-stage, multi-dimensional, multiple-homogeneous enhanced melody search algorithm (MMM-EMSA), referred to as a symphony orchestra search algorithm (SOSA), was employed. Case studies using the IEEE 118-bus test system—a part of the American electrical power grid in the Midwestern U.S.—are provided in this paper in order to illustrate the effectiveness and capability of the model on a large-scale power grid. According to the simulation results, several conclusions can be drawn when comparing the unilateral bidding strategy: the competition among GenCos and DisCos facilitates; the improved performance of the electricity market; mitigation of the polluting atmospheric emission levels; and, the increase in total profits of the GenCos and DisCos.

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Section: Background and Motivationmentioning

confidence: 99%

Section: Background and Motivationmentioning

confidence: 99%

Section: Background and Motivationmentioning

confidence: 99%

Section: Lower-level Problem: Joint Day-ahead Energy and Reserve Elec...mentioning

confidence: 99%

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Bilateral bidding strategy in joint day-ahead energy and reserve electricity markets considering techno-economic-environmental measures

Shivaie

Kiani-Moghaddam

Weinsier

2021

Energy & Environment

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“…Here, the objective of ISO is to ensure a balance between supply and demand. The bi-level optimization problem for ISO in its upper level is market-clearing, and the lower level is maximizing the social profit for participants [11].…”

Section: Introductionmentioning

confidence: 99%

Simulated Annealing Algorithm for Dynamic Economic Dispatch Problem in the Electricity Market Incorporating Wind Energy

Bouddou¹,

Benhamida²,

Haba³

et al. 2020

ISI

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In this paper, a bid-based dynamic economic dispatch (BBDED) problem is solved in the electricity market system under bidding strategies, including wind energy penetration using simulated annealing (SA) algorithm. The multi-objective dispatch model allows generating companies (GENCOs) and their customers to submit supply and demand bids to a market controller known as the independent system operator (ISO) and follow a bidding strategy. ISO is responsible for the market clearing and settlement to maximize the social profit and benefit for GENCOs and customers during trading periods. To study the effect and advantages of wind energy integration in the BBDED problem, the wind energy generation is computed using the forecasted wind speeds and included in the dispatch model. In this regard, the ISO's dispatch model is formulated as a bilevel nonlinear optimization problem. The higher-level is solving the market-clearing with and without wind energy, and the lower level is maximizing GENCO's social profit. The proposed SA algorithm is evaluated for optimality, convergence, robustness, and computational efficiency tested on an IEEE 30-bus test system. The simulation results are compared with those found using different algorithm-based approaches, considering various constraints like power balancing, generator limits, ramp rate limits, and transmission losses.

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Comparison of the centralized and decentralized environmentally constrained economic dispatch methods of coal-fired generators: A case study for South Korea

Shin

Kim

2023

Energy

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Optimal bidding in emission constrained economic dispatch

Cited by 7 publications

References 32 publications

Bilateral bidding strategy in joint day-ahead energy and reserve electricity markets considering techno-economic-environmental measures

Bilateral bidding strategy in joint day-ahead energy and reserve electricity markets considering techno-economic-environmental measures

Simulated Annealing Algorithm for Dynamic Economic Dispatch Problem in the Electricity Market Incorporating Wind Energy

Comparison of the centralized and decentralized environmentally constrained economic dispatch methods of coal-fired generators: A case study for South Korea

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