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In the Smart Grid, Demand Response (DR) programs have been developed rapidly, which change the fixed mindsets of satisfying the growing power demand merely by the development of power supply side, and utilize the demand side resources as alternative energy sources. Nevertheless, in application of DR programs, there are many uncertain factors which cannot be reflected in conventional optimization approaches...
The restructuring of global power industries has introduced a number of challenges, such as conflicting planning objectives and increasing uncertainties, to transmission network planners. During the recent past, a number of distributed generation technologies also reached a stage allowing large-scale implementation, which will profoundly influence the power industry, as well as the practice of transmission...
This paper proposes a new formulation for the price based unit commitment (PBUC) of electric power generators under a deregulated electricity market. The methodology is developed from the viewpoint of a generating company (GENCO) wishing to maximize its own profit and to hedge its risk as a participant in the market. The problem is expressed as a mixed integer programming (MIP) optimization model...
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