A Parametric Unit Commitment Method for Revenue Adequacy Assessment
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Gianpietro Granelli
Unit commitment (UC), originally employed to minimize the generating cost of a vertically integrated utility, has become a basic tool for revenue adequacy evaluation by GENeration COmpanies (GENCOs). The strategic role of UC is apparent in those market environments where GENCOs are asked to internalize all costs and the relevant UC decisions within their day–ahead market bids. In this paper, a parametric UC method is presented to assess the convenience of making energy bids for marginal or nearly marginal generation units. The convenience is gauged by the basis of revenue adequacy that is on each unit's ability to cover all expenses and generate profits. Beside UC choices, the parametric UC procedure provides a market price behavior that would make it profitable to commit a certain unit for generation. A Monte Carlo simulation program is employed to find the probability that actual market prices will fulfill the revenue adequacy requirements. Market prices are handled as random variables with multivariate normal distribution, taking into account the correlation between prices at successive time periods. The parametric UC procedure and the Monte Carlo simulation are carried out by using reasonable data of generation units available to some Italian GENCOs.
©2011 Walter de Gruyter GmbH & Co. KG, Berlin/Boston
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Artikel in diesem Heft
- Article
- Dispatch Optimisation of Renewable Energy Generation Participating in a Liberalised Electricity Market
- Resistance to Tracking of EPDM Aged by Gamma Irradiation under AC and DC Voltages
- A Parametric Unit Commitment Method for Revenue Adequacy Assessment
- Time-Frequency Spectrum Analysis of Very Fast Transient Currents (VFTC) Generated in a GIS
- Steady-State and Dynamic Behavior of a Single-Phase Self-Excited Induction Generator Using a Three-Phase Machine
- A Novel Modulated Power Filter Compensator for Distribution Networks with Distributed Wind Energy
- Fuzzy Expert Approach with Curtailed Controllers for Improved Reactive Power Dispatch
