A New Approach for GENCOs Profit Based Unit Commitment in Electricity Market

In restructured power systems, planning unit commitment includes optimization of production sources in order to maximize the profit of power producing corporations (GENCO) with conforming to the related limits, which is introduced as the planning based on the profit of units commitment (PBUC). In this paper, the algorithm of Iteration Particle Swarm Optimization (IPSO) has been used in order to solve the problem of PBUC. The performance of the Classical Particle Swarm Optimization (CPSO) greatly depends on its parameters, and it often suffers the problem of being trapped in local optima. A new index named, Iteration Best, is incorporated in CPSO to enrich the searching behavior, solution quality and to avoid being trapped into local optimum. A new index named, Iteration Best, is incorporated in CPSO to enrich the searching behavior, solution quality and to avoid being trapped into local optimum. In this paper, a ten-unit power generation system has been used in order to solve the problem of PBUC. Comparison between the best conclusions achieved in this research and the best ones reported in the literature of this subject reveals the excellence of the procedure used in this research. Keyword: Profit Based Unit Commitment (PBUC), Restructured Power Systems, Iteration Particle Swarm Optimization (IPSO). Received 10.06.2015 Revised 20.08.2015 Accepted 15.09.2015 INTRODUCTION In power systems with traditional structures, units commitment planning is considered as optimization of power-producing units in order to meet the demands with the lowest prices. In minimizing the costs of utilization, units commitment based on its costs is usually referred [1]. Recently, most of the electrical power industries are changing from integrated vertical structure to private structure, which is referred as restructuring. It means breaking integrated vertical power systems up into producing, conveyance, and distribution corporations [2]. The fundamental purpose of privatization is to create a competitive situation among the producers and provision of lower prices for Consumers to choose [2]. This has been resulted into a change in procedures to solve the problems of the new situation. Nowadays, there is no guarantee to have just one corporation to supply electricity, so predicting the corporations' (GENCO) share of demands for electricity is more difficult than ever. Sequentially, as the aim of GENCO is to maximize their profit, units' commitment (UC) problem must be dealt differently and with PBUC. In PBUC, power provision is not compulsory, and maximizing the profit is the aim. However, in traditional UN, the producing corporations are planned in a way that demands are met with the lower prices [2]. In comparison with UC, the outstanding feature of PBUC is that all the market information is reflected in the price, and so thermal units, combined and water cycle, and pump reserve are provided and MIP and LR methods are compared. In addition, combined methods, for example LR and GA [3], LR and Evolutionary planning [4], and DP and non-linear planning as an innovative method [5] are used to solve the problem of PBUC. An arbitrary planning method considering uncertainty in demands and market prices has been introduced [6]. In [7], the solution of the problem PBUC in a momentary market has been used with an arbitrary DP, in which power uncertainty and availability of producing units have been considered. In research [8], a revolutionary method based on priority has been introduced. In research [9], separate binary PSO algorithm has been used to solve the problem PBUC. Research [10], in