LAPSE:2023.29259
Published Article
LAPSE:2023.29259
Profit-Based Unit Commitment for a GENCO Equipped with Compressed Air Energy Storage and Concentrating Solar Power Units
April 13, 2023
With the advent of restructuring in the power industry, the conventional unit commitment problem in power systems, involving the minimization of operation costs in a traditional vertically integrated system structure, has been transformed to the profit-based unit commitment (PBUC) approach, whereby generation companies (GENCOs) perform scheduling of the available production units with the aim of profit maximization. Generally, a GENCO solves the PBUC problem for participation in the day-ahead market (DAM) through determining the commitment and scheduling of fossil-fuel-based units to maximize their own profit according to a set of forecasted price and load data. This study presents a methodology to achieve optimal offering curves for a price-taker GENCO owning compressed air energy storage (CAES) and concentrating solar power (CSP) units, in addition to conventional thermal power plants. Various technical and physical constraints regarding the generation units are considered in the provided model. The proposed framework is mathematically described as a mixed-integer linear programming (MILP) problem, which is solved by using commercial software packages. Meanwhile, several cases are analyzed to evaluate the impacts of CAES and CSP units on the optimal solution of the PBUC problem. The achieved results demonstrate that incorporating the CAES and CSP units into the self-scheduling problem faced by the GENCO would increase its profitability in the DAM to a great extent.
Keywords
Compressed Air Energy Storage, concentrating solar power plant, electricity markets, generation companies, profit-based unit commitment
Suggested Citation
Nasouri Gilvaei M, Hosseini Imani M, Jabbari Ghadi M, Li L, Golrang A. Profit-Based Unit Commitment for a GENCO Equipped with Compressed Air Energy Storage and Concentrating Solar Power Units. (2023). LAPSE:2023.29259
Author Affiliations
Nasouri Gilvaei M: Department of Electrical Engineering, University of Guilan, Rasht 4199613776, Iran [ORCID]
Hosseini Imani M: Department of Energy, Politecnico di Torino, 10129 Torino, Italy [ORCID]
Jabbari Ghadi M: School of Electrical and Data Engineering, University of Technology Sydney, Sydney, NSW 2007, Australia
Li L: School of Electrical and Data Engineering, University of Technology Sydney, Sydney, NSW 2007, Australia [ORCID]
Golrang A: Department of Information Security and Communication Technology, NTNU Norwegian University of Science and Technology, 2815 Gjøvik, Norway [ORCID]
Journal Name
Energies
Volume
14
Issue
3
First Page
576
Year
2021
Publication Date
2021-01-23
Published Version
ISSN
1996-1073
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Original Submission
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PII: en14030576, Publication Type: Journal Article
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LAPSE:2023.29259
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doi:10.3390/en14030576
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Apr 13, 2023
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