Journal of Electrical Engineering and Technology

The Korean Institute of Electrical Engineers (대한전기학회)
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Multi-Area Unit Commitment with Bilateral Contract Approach in Deregulated Electricity Market

  • Selvi, S.Chitra (Department of Electrical and Electronics Engineering, College of Engineering, Guindy, Anna University) ;
  • Devi, R.P.Kumudini (Department of Electrical and Electronics Engineering, College of Engineering, Guindy, Anna University) ;
  • Rajan, C.Christober Asir (Department of Electrical and Electronics Engineering, Pondicherry Engineering College)
  • Published : 2009.09.01
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Abstract

The eventual goal of this paper is to help the generating companies and load-serving entities to choose appropriate relative levels of interconnected system versus bilateral trades while considering risk, and economic performance. In competitive power markets, electricity prices are determined by balance between demand and supply in electric power exchanges or bilateral contracts. The problem formulation is bilateral contract incorporated into Multi-area unit commitment with import/export and tie-line constraints. This proposed method considers maximizing own profit or minimize the operating cost among the generating companies in multi-area system. The feasibility of the proposed algorithm has been demonstrated using IEEE system with four areas and experimental results shows that proposed method is reliable, fast and computationally efficient

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References

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