• Title/Summary/Keyword: Generation Companies (GENCOs)

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An Efficient Taguchi Approach for the Performance Optimization of Health, Safety, Environment and Ergonomics in Generation Companies

  • Azadeh, Ali;Sheikhalishahi, Mohammad
    • Safety and Health at Work
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    • v.6 no.2
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    • pp.77-84
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    • 2015
  • Background: A unique framework for performance optimization of generation companies (GENCOs) based on health, safety, environment, and ergonomics (HSEE) indicators is presented. Methods: To rank this sector of industry, the combination of data envelopment analysis (DEA), principal component analysis (PCA), and Taguchi are used for all branches of GENCOs. These methods are applied in an integrated manner to measure the performance of GENCO. The preferred model between DEA, PCA, and Taguchi is selected based on sensitivity analysis and maximum correlation between rankings. To achieve the stated objectives, noise is introduced into input data. Results: The results show that Taguchi outperforms other methods. Moreover, a comprehensive experiment is carried out to identify the most influential factor for ranking GENCOs. Conclusion: The approach developed in this study could be used for continuous assessment and improvement of GENCO's performance in supplying energy with respect to HSEE factors. The results of such studies would help managers to have better understanding of weak and strong points in terms of HSEE factors.

Suppression of Strategic Capacity Withholding by Capacity Payment in a Competitive Generation Market (경쟁적 전력시장에서 용량요금에 의한 전략적 용량철회 억제)

  • Lee, Kwang-Ho
    • The Transactions of The Korean Institute of Electrical Engineers
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    • v.56 no.7
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    • pp.1199-1204
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    • 2007
  • In a cost based pool market, the generation capacity can be used as strategic bids by generation companies (Gencos) with the cost functions open to the market. Competition using strategic capacities is modeled by Cournot and Perfect Competiton (PC) model, and transformed into two by two payoff matrix game with Gencos' decision variables of Cournot and PC model. The payoff matrices vary when capacity payments are given to Gencos in accordance with their capacity bids. Nash Equilibrium (NE) in the matrices also moves with capacity price changes. In order to maximize social welfare of the market, NE should locate in a certain position of the payoff matrices, which corresponds to a PC NE. A concept of a critical capacity price is proposed and calculated in this paper that is defined as a minimum capacity price leading to PC NE. The critical capacity price is verified to work as a tool for suppressing a strategic capacity withholding in simulations of a test system.

Hybrid Artificial Immune System Approach for Profit Based Unit Commitment Problem

  • Lakshmi, K.;Vasantharathna, S.
    • Journal of Electrical Engineering and Technology
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    • v.8 no.5
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    • pp.959-968
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    • 2013
  • This paper presents a new approach with artificial immune system algorithm to solve the profit based unit commitment problem. The objective of this work is to find the optimal generation scheduling and to maximize the profit of generation companies (Gencos) when subjected to various constraints such as power balance, spinning reserve, minimum up/down time and ramp rate limits. The proposed hybrid method is developed through adaptive search which is inspired from artificial immune system and genetic algorithm to carry out profit maximization of generation companies. The effectiveness of the proposed approach has been tested for different Gencos consists of 3, 10 and 36 generating units and the results are compared with the existing methods.

Analysis of the Competitive Effects of Financial Transmission Rights on Electricity Markets (재무적 송전권의 전력시장에의 영향 분석)

  • 김진호;박종배;신중린
    • The Transactions of the Korean Institute of Electrical Engineers A
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    • v.53 no.6
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    • pp.350-357
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    • 2004
  • In a deregulated electricity generation market, the sufficient capacity of transmission lines will promote the competition among generation companies (Gencos). In this paper, we show that Gencos' possession of rights to collect congestion rents may increase the competition effects of the transmission lines. In order for concrete analysis on this effect, a simple symmetric market model is introduced. In this framework, introducing the transmission right to the Gencos has the same strategic effects as increasing the line capacity of the transmission line. Moreover, the amount of effectively increased line capacity is equal to the amount of the line rights. We also show that the asymmetric share of the financial transmission rights may result in an asymmetric equilibrium even for symmetric firms and markets. We also demonstrate these aspects in equal line rights model and single firm line rights model. Finally, a numerical example is provided to show the basic idea of the proposed paper.

Demand Response Effect on Market Power with Transmission Congestion in Electricity Market (전략적 수요반응이 송전선 혼잡의 시장지배력에 미치는 영향)

  • Lee, Kwang-Ho
    • The Transactions of The Korean Institute of Electrical Engineers
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    • v.66 no.12
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    • pp.1705-1711
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    • 2017
  • This paper analyzes the impact of DRA (Demand Response Aggregator) on market power when competing with power generation companies (Gencos) in the electricity market. If congestion occurs in the transmission line, the strategic choice of the power generation company increases exercise of market power. DRA's strategic reduction of power load impacts the strategy of Gencos, which in turn affects the outcome of the load reduction. As the strategy of Gencos changes according to the location of the congested transmission line, the impact on the market depends on the relative location of the congested line and the DRA.

Generator Maintenance Scheduling of System Operator in Competitive Electricity Markets (경쟁적 전력시장에서 계통운용자의 발전기 예방정비계획에 관한 연구)

  • 한석만;신영균;정구형;김강원;김발호
    • The Transactions of the Korean Institute of Electrical Engineers A
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    • v.53 no.8
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    • pp.477-483
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    • 2004
  • In competitive electricity markets, maintenance schedule is submitted by generation companies (GENCOs) and transmission companies (TRANSCOs), and coordinated by Independent System Operator (ISO) with the adequacy criterion. This paper presents an alternative coordination procedure by ISO on the maintenance schedule. In this paper, it is focused on modeling a coordination algorithm by ISO for the maintenance schedule based on the Simulated Annealing algorithm. The proposed model employs the minimum information such as generator capacity, forced outage rate and generator maintenance schedules. The objective function of this model represents minimization of adjustment on schedules submitted by GENCOs.

An Improved Generation Maintenance Strategy Analysis in Competitive Electricity Markets Using Non-Cooperative Dynamic Game Theory (비협조 동적게임이론을 이용한 경쟁적 전력시장의 발전기 보수계획 전략 분석)

  • 김진호;박종배;김발호
    • The Transactions of the Korean Institute of Electrical Engineers A
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    • v.52 no.9
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    • pp.542-549
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    • 2003
  • In this paper, a novel approach to generator maintenance scheduling strategy in competitive electricity markets based on non-cooperative dynamic game theory is presented. The main contribution of this study can be considered to develop a game-theoretic framework for analyzing strategic behaviors of generating companies (Gencos) from the standpoints of the generator maintenance-scheduling problem (GMP) game. To obtain the equilibrium solution for the GMP game, the GMP problem is formulated as a dynamic non-cooperative game with complete information. In the proposed game, the players correspond to the profit-maximizing individual Gencos, and the payoff of each player is defined as the profits from the energy market. The optimal maintenance schedule is defined by subgame perfect equilibrium of the game. Numerical results for two-Genco system by both proposed method and conventional one are used to demonstrate that 1) the proposed framework can be successfully applied in analyzing the strategic behaviors of each Genco in changed markets and 2) both methods show considerably different results in terms of market stability or system reliability. The result indicates that generator maintenance scheduling strategy is one of the crucial strategic decision-makings whereby Gencos can maximize their profits in a competitive market environment.

Profit-based Thermal Unit Maintenance Scheduling under Price Volatility by Reactive Tabu Search

  • Sugimoto Junjiro;Yokoyama Ryuichi
    • KIEE International Transactions on Power Engineering
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    • v.5A no.4
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    • pp.331-338
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    • 2005
  • In this paper, an improved maintenance scheduling approach suitable for the competitive environment is proposed by taking account of profits and costs of generation companies and the formulated combinatorial optimization problem is solved by using Reactive Tabu search (RTS). In competitive power markets, electricity prices are determined by the balance between demand and supply through electric power exchanges or by bilateral contracts. Therefore, in decision makings, it is essential for system operation planners and market participants to take the volatility of electricity price into consideration. In the proposed maintenance scheduling approach, firstly, electricity prices over the targeted period are forecasted based on Artificial Neural Network (ANN) and also a newly proposed aggregated bidding curve. Secondary, the maintenance scheduling is formulated as a combinatorial optimization problem with a novel objective function by which the most profitable maintenance schedule would be attained. As an objective function, Opportunity Loss by Maintenance (OLM) is adopted to maximize the profit of generation companies (GENCOS). Thirdly, the combinatorial optimization maintenance scheduling problem is solved by using Reactive Tabu Search in the light of the objective functions and forecasted electricity prices. Finally, the proposed maintenance scheduling is applied to a practical test power system to verify the advantages and practicability of the proposed method.

Application of Differential Evolution to Dynamic Economic Dispatch Problem with Transmission Losses under Various Bidding Strategies in Electricity Markets

  • Rampriya, B.;Mahadevan, K.;Kannan, S.
    • Journal of Electrical Engineering and Technology
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    • v.7 no.5
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    • pp.681-688
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    • 2012
  • This paper presents the application of Differential Evolution (DE) algorithm to obtain a solution for Bid Based Dynamic Economic Dispatch (BBDED) problem including the transmission losses and to maximize the social profit in a deregulated power system. The IEEE-30 bus test system with six generators, two customers and two trading periods are considered under various bidding strategies in a day-ahead electricity market. By matching the bids received from supplying and distributing entities, the Independent System Operator (ISO) maximize the social profit, (with the choices available). The simulation results of DE are compared with the results of Particle swarm optimization (PSO). The results demonstrate the potential of DE algorithm and show its effectiveness to solve BBDED.

Improved Pre-prepared Power Demand Table and Muller's Method to Solve the Profit Based Unit Commitment Problem

  • Chandram, K.;Subrahmanyam, N.;Sydulu, M.
    • Journal of Electrical Engineering and Technology
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    • v.4 no.2
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    • pp.159-167
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    • 2009
  • This paper presents the Improved Pre-prepared Power Demand (IPPD) table and Muller's method as a means of solving the Profit Based Unit Commitment (PBUC) problem. In a deregulated environment, generation companies (GENCOs) schedule their generators to maximize profits rather than to satisfy power demand. The PBUC problem is solved by the proposed approach in two stages. Initially, information concerning committed units is obtained by the IPPD table and then the subprob-lem of Economic Dispatch (ED) is solved using Muller's method. The proposed approach has been tested on a power system with 3 and 10 generating units. Simulation results of the proposed approach have been compared with existing methods and also with traditional unit commitment. It is observed from the simulation results that the proposed algorithm provides maximum profit with less computational time compared to existing methods.