Generation scheduling in a competitive environment

Electric power restructuring offers a major change to the vertically integratedmonopoly. the change manifests the main part of engineers’ efforts to reshape the threecomponents of today’s vertically integrated monopoly: generation, distribution andtransmission. in a restructured environment, the main tasks of these three components willremain the same as before, however, to comply with ferc orders, new types of unbundling,coordination and rules are to be established to guarantee competition and non-discriminatoryopen access to all users.this paper provides the generation schedule of a genco in a deregulated power system. it isshown that the goal of generation schedule in the new structure is different from the traditionalcentralized power systems. the modeling of generation scheduling problem in a competitiveenvironment is demonstrated by taking into account the main purposes of gencos which areselling electricity as much as possible and making higher profit. the gencos of an area areintroduced via a model whose objective function consists of hourly spot market price as incomeand different kinds of costs. the constraints are the general ones of such a problem e.g.minimum up/down time, minimum and maximum generation and ramp rate. using one of theclassical optimization methods, the hourly generation schedule of the generating units will beobtained in this competitive environment. the results of this section will be used by iso. theiso will finalize the schedules of gencos by taking into account the technical considerationslike the power flow of transmission lines. the model and the optimization methods areimplemented on ieee-rts benchmark with 24 buses and 32 generating units.