In the context of liberalized markets, market outcomes generally result from the strategic interactions of all market players. Generation company (Genco), as the distributed players, build their subjective demand evaluations (SDFs) about market for optimal bidding purpose. Due to the differences in terms of data availability and modeling techniques, subjective demand models held by various Genc...

Strategic bidding in joint energy and spinning reserve markets is a challenging task from the viewpoint of Generation Companies (GenCos). In this paper, the interaction between energy and spinning reserve markets is modeled considering a joint probability density function for the prices of these markets. Considering pay-as-bid pricing mechanism, the bidding problem is formulated and solved as a...

A GA based optimal generation scheduling strategy is developed to solve the profit maximization problem for GENCO in the day ahead market. It is a multi objective formulation that includes the forecasted demand, forecasted market clearing price, startup cost and profit functions, besides the generating limits and demand constraints. The proposed GA approach is investigated on three unit and ten...

This paper provides a self scheduling tool for price taker Gencos. This methodology is based on Robust Optimization (RO) to deal with the uncertainties of market price values in the dayahead electricity pool market. The Genco is assumed to be the entity who decides about the operating schedules of its thermal units and Compressed Air Energy Storage (CAES) units. The benefits of Genco brought by...

Genetic Programming involves the evolution of computer programs, which are usually represented by trees composed by functions and terminals. In order to assign fitness, one must evaluate the programs, which is the most time demanding step of GP. In nowadays standard approaches, the evaluation involves an interpretation step. To avoid this step, which significantly slows the algorithm, some rese...

<p class="Title1">In this article, bacterial foraging optimization (BFO) algorithm is developed for single side optimal bidding strategy in an electricity market. Optimal one of the important functions market along with forecasting price and profit based unit commitment. The prime objective generating company (Genco) to maximize their when they participate process. BFO has been used proba...

The electric power industry need changes in various power system operation, control and planning activities. Generation companies (GENCOs) schedule their generators with an objective to maximize their own profit rather than compromising on social benefit. Power and reserve prices become important factors in decision process. GENCOs decision to commit generating units is associated with financia...

in restructured power systems and in a wholesale power market, a distribution company as a market player intends to maximize its profit by utilizing its options. hence determining an optimal energy acquisition strategy for a distribution company is vital, for attaining to this goal. however an important challenge for determining these strategies is forecasting other competitors and generation c...