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Profit-Based Unit Commitment for a GENCO Equipped with Compressed Air Energy Storage and Concentrating Solar Power Units

Author

Listed:
  • Mostafa Nasouri Gilvaei

    (Department of Electrical Engineering, University of Guilan, Rasht 4199613776, Iran)

  • Mahmood Hosseini Imani

    (Department of Energy, Politecnico di Torino, 10129 Torino, Italy)

  • Mojtaba Jabbari Ghadi

    (School of Electrical and Data Engineering, University of Technology Sydney, Sydney, NSW 2007, Australia)

  • Li Li

    (School of Electrical and Data Engineering, University of Technology Sydney, Sydney, NSW 2007, Australia)

  • Anahita Golrang

    (Department of Information Security and Communication Technology, NTNU Norwegian University of Science and Technology, 2815 Gjøvik, Norway)

Abstract

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.

Suggested Citation

  • Mostafa Nasouri Gilvaei & Mahmood Hosseini Imani & Mojtaba Jabbari Ghadi & Li Li & Anahita Golrang, 2021. "Profit-Based Unit Commitment for a GENCO Equipped with Compressed Air Energy Storage and Concentrating Solar Power Units," Energies, MDPI, vol. 14(3), pages 1-20, January.
    • Handle: RePEc:gam:jeners:v:14:y:2021:i:3:p:576-:d:485701
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    References listed on IDEAS

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    Cited by:

    1. Lucas Santiago Nepomuceno & Layon Mescolin de Oliveira & Ivo Chaves da Silva Junior & Edimar José de Oliveira & Arthur Neves de Paula, 2023. "Modified Genetic Algorithm for the Profit-Based Unit Commitment Problem in Competitive Electricity Market," Energies, MDPI, vol. 16(23), pages 1-22, November.
    2. Hossein Lotfi & Mohammad Hasan Nikkhah, 2024. "Multi-Objective Profit-Based Unit Commitment with Renewable Energy and Energy Storage Units Using a Modified Optimization Method," Sustainability, MDPI, vol. 16(4), pages 1-28, February.
    3. Mitul Ranjan Chakraborty & Subhojit Dawn & Pradip Kumar Saha & Jayanta Bhusan Basu & Taha Selim Ustun, 2022. "System Profit Improvement of a Thermal–Wind–CAES Hybrid System Considering Imbalance Cost in the Electricity Market," Energies, MDPI, vol. 15(24), pages 1-25, December.
    4. Ann-Kathrin Klaas & Hans-Peter Beck, 2021. "A MILP Model for Revenue Optimization of a Compressed Air Energy Storage Plant with Electrolysis," Energies, MDPI, vol. 14(20), pages 1-21, October.

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