SECURITY - CONSTRAINED PRICE BASED UNIT COMMITMENT FOR DEREGULATED ELECTRICITY MARKET

Abstract

The restructuring and deregulation of electricity market has lead to a competition among power utilities. Unit commitment in deregulated environment is not as simple as traditional unit commitment. It has become more difficult and challenging task. The goal of unit commitment in deregulated environment is not as same as before; it has changed from cost minimization to profit maximization. The generation companies in deregulated environment may chose to earn more profit at the cost of generating less than forecasted demand. This thesis describes an approach for solving unit commitment problem in restructured system. In this thesis, a solution methodology for unit commitment problem based on lagrange relaxation technique and genetic algorithm has been presented. The unit commitment scheduling has been obtained for two cases of reserve payment and the results of traditional unit commitment have been compared with profit based unit commitment in each case.