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...

In this paper, a two-stage optimal charging scheme based on transactive control is proposed for the aggregator to manage day-ahead electricity procurement and real-time EV charging management in order to minimize its total operating cost. The day-ahead electricity procurement considers both the day-ahead energy cost and expected real-time operation cost. In the real-time charging management, th...

In this paper, an agent-based structure of the electricity retail market is presented based on which day-ahead (DA) energy procurement for customers is modeled. Here, we focus on operation of only one Retail Energy Provider (REP) agent who purchases energy from DA pool-based wholesale market and offers DA real time tariffs to a group of its customers. As a model of customer response to the offe...

An important objective of electricity suppliers is to maximize their profits over a planning horizon and comply with the market rules. This objective requires suppliers to learn from their bidding experience and behave in an anticipatory way. With volatile Locational Marginal Prices (LMPs), ever-changing transmission grid conditions, and incomplete information about other market participants, d...

The electricity market has evolved from a regulated monopoly to a more liberalized competitive market, which allows a generating company (GENCO) to bid to provide energy. The two-period structure of the electricity market (day-ahead and real-time market) introduces a mechanism for determining the GENCO’s optimal bidding strategy. The difference between clearing prices for each period adds uncer...

This paper proposes a probabilistic optimization method that produces optimal bidding curves to be submitted by an aggregator to the day-ahead electricity market and the intraday market, considering the flexible demand of his customers (based in time dependent resources such as batteries and shiftable demand) and taking into account the possible imbalance costs as well as the uncertainty of for...

This paper outlines the fundamental features of the PJM day-ahead energy market and real-time energy market. The Day-ahead market is based on a voluntary least-cost security constrained unit commitment and dispatch with several fundamental design features that ensure the market is robust and competitive. This market offers market participants the option to lock in energy and transportation char...