Abstract:
Generation system is one of the major components of the electric power industry. In deregulated power systems, generation system provides the required environment for competition among power market participants. The entry of Independent Power Producers (IPPs) in generation has become almost a necessity in deregulated market. The entry of IPPs paves the way for further reforms and contributes to increase the competitiveness of the electricity sector.
In this dissertation, the generation expansion scheme in deregulated market by considering the IPPs's participation has been studied. The IPPs are competed as the separate generation technologies to the similar type. generators of Utility's and are used to replace them if their inclusion minimizes the - cost of expansion. Mathematical models for the cost minimization of Utility's and the profit maximization of IPPs are separately formulated. The cost minimization problem of Utility includes the cost of investment, cost of introducing IPPs and cost of operation. A bidding strategy of IPPs and their energy limits are evaluated based on the scenario analysis. The problem is solved by using the deterministic method Dynamic Programming (DP) and the stochastic method Genetic Algorithm (GA) while maintaining the system reliability and the profits of IPPs.
Reliability indices, LOLP and EENS are estimated by using the probabilistic production simulation approach. An Equivalent Energy Function method is adopted for probability production simulation to calculate the reliability indices and feasibility of a particular generation mix.
