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This paper addresses the fuel planning problem of a combined cycle power station by optimal allocation of natural gas portfolios in long term fixed contracts and short term market. The power producer solves the optimization by a two stage stochastic programming approach and minimizes the expected yearly fuel cost. The stochastic behavior of gas price in the short term market and uncertainty of load...
This paper develops a risk constrained expected fuel cost minimization model for a gas turbine power producer in India. The decision strategy of the generator is to optimize the natural gas portfolio comprising long term fixed contracts and short term purchases to minimize the yearly fuel cost. The model considers stochastic behavior of load demand and gas price in short term gas market. Constraints...
This paper develops a risk constrained expected profit maximization model for a generating station operating under Availability Based Tariff (ABT) regime in India. The decision strategy of the generator is to optimize the availability target trajectory for a yearly time span in appropriate time intervals. The model considers stochastic behaviour of generating units' outage, Unscheduled Interchange...
Decentralized distributed generation (DDG) is considered as a viable option for electrification of rural areas where there is no access to electric network. An approach has been presented in this paper for optimal selection of micro gas turbine based distributed generator meant for standalone application. The decision support model incorporates the stochastic nature of opportunity cost of capital...
This paper evolves a strategy for optimal declaration of the day ahead generation availability in the 'Availability Based Tariff regime in India'. The mathematical formulation presented in this paper maximizes the expected revenue of the generator by considering various stochastic parameters. The computational model developed in this work considers three random variables viz, the generating unit's...
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