Stochastic short-term maintenance scheduling of GENCOs in an oligopolistic electricity market

Abstract

a b s t r a c tIn the proposed model, the independent system operator (ISO) provides the opportunity for maintenance outage rescheduling of generating units before each short-term (ST) time interval. Long-term (LT) scheduling for 1 or 2 years in advance is essential for the ISO and the generation companies (GENCOs) to decide their LT strategies; however, it is not possible to be exactly followed and requires slight adjustments. The Cournot-Nash equilibrium is used to characterize the decision-making procedure of an individual GENCO for ST intervals considering the effective coordination with LT plans. Random inputs, such as parameters of the demand function of loads, hourly demand during the following ST time interval and the expected generation pattern of the rivals, are included as scenarios in the stochastic mixed integer program defined to model the payoff-maximizing objective of a GENCO. Scenario reduction algorithms are used to deal with the computational burden. Two reliability test systems were chosen to illustrate the effectiveness of the proposed model for the ST decision-making process for future planned outages from the point of view of a GENCO.

Climate Change and the Vulnerability of Germany’s Power Sector to Heat and Drought

“…Studies also show that oligopolistic structures in the electricity market can lead to the exercise of market power. (Ghazvini et al 2013) show, for example, that the planning of maintenance can be influenced by strategic decision-making. The presented descriptive analysis of the relationship between weather conditions and outages does not, however, make it possible to depict strategic decision-making situations, which is why the authors exclude this factor in the further analysis.…”

Transmission-constrained generation maintenance scheduling considering market-based demand response

“…where SB is the system base power, θ is the nodal angle, and X is the line reactance.Equation 14 represents the power balance constraint in a node of the transmission system based on the dc representation of transmission system constraints. First term in the left-hand side of Equation 14 shows the demand in bus i, and the second term calculates the injected power from set of generation units connected to bus i (Ω i gen ). The right-hand side of Equation 14 is equal to the powers extracted by set of lines (j) connected to bus i (Ω i bus ).…”

“…Reference [1] has investigated the concepts of maintenance scheduling in the restructured power system as the pioneering research in this area. After that, some researchers have focused on GMS problem from generation companies (GenCos) point of view [11][12][13][14] (which is out of the scope of this paper) and others have studied generation maintenance coordination mechanisms [9,10,[15][16][17][18][19][20][21][22][23].…”

Sample average approximation and stability tests applied to energy system design

“…In the latter studies, the sampled scenarios are adjusted to the mean value of the uncertainty. Scenario reduction by distance measures are used in power generation expansion problems in [23,24,43,44], in maintenance scheduling in [45] and in unit commitment problems in [46,47].…”