The Next Generation of Electric Power Unit Commitment Models

by Hobbs, Benjamin F.; Rothkopf, Michael H.; O'Neill, Richard P.; Chao, Hung-Po

• ISBN13: 9780792373346
• ISBN10: 0792373340
• Format: Hardcover
• Copyright: 2001-04-01
• Publisher: Kluwer Academic Pub

Summary

Over the years, the electric power industry has been using optimization methods to help them solve the unit commitment problem. The result has been savings of tens and perhaps hundreds of millions of dollars in fuel costs. Things are changing, however. Optimization technology is improving, and the industry is undergoing radical restructuring. Consequently, the role of commitment models is changing, and the value of the improved solutions that better algorithms might yield is increasing. The dual purpose of this book is to explore the technology and needs of the next generation of computer models for aiding unit commitment decisions. Because of the unit commitment problem's size and complexity and because of the large economic benefits that could result from its improved solution, considerable attention has been devoted to algorithm development in the book. More systematic procedures based on a variety of widely researched algorithms have been proposed and tested. These techniques have included dynamic programming, branch-and-bound mixed integer programming (MIP), linear and network programming approaches, and Benders decomposition methods, among others. Recently, metaheuristic methods have been tested, such as genetic programming and simulated annealing, along with expert systems and neural networks. Because electric markets are changing rapidly, how UC models are solved and what purposes they serve need reconsideration. Hence, the book brings together people who understand the problem and people who know what improvements in algorithms are really possible. The two-fold result in The Next Generation of Electric Power Unit Commitment Models is an assessment of industry needs and new formulations and computational approaches that promise to make unit commitment models more responsive to those needs.

Table of Contents

Acknowledgments	vii
I. The Evoliving Context for Unit Commitment Decisions
Why This Book?: New Capabilities and New Needs for Unit Commitment Modeling	1	(14)
B. F. Hobbs
W. R. Stewart Jr.
R. E. Bixby
M. H. Rothkopf
R. P. O'Neill
H.-p. Chao
Regulatory Evolution, Market Design and Unit Commitment	15	(24)
R. P. O'Neill
U. Helman
P. M. Sotkeiwicz
M. H. Rothkopf
W. R. Stewart Jr.
Development of an Electric Energy Market Simulator	39	(14)
A. Debs
C. Hansen
Y.-C. Wu
II. New Features in Unit Commitment Models
Auctions with Explicit Demand-Side Bidding in Competitive Electricity Markets	53	(22)
A. Borghetti
G. Gross
C. A. Nucci
Thermal Unit Commitment with a Nonlinear AC Power Flow Network Model	75	(18)
C. E. Murillo-Sanchez
R. J. Thomas
Optimal Self-Commitment under Uncertain Energy and Reserve Prices	93	(24)
R. Rajaraman
L. Kirsch
F. L. Alvarado
C. Clark
A Stochastic Model for a Price-Based Unit Commitment Problem and Its Application to Short-Term Generation Asset Valuation	117	(22)
C.-L. Tseng
Probabilistic Unit Commitment under a Deregulated Market	139	(14)
J. Valenzuela
M. Mazumdar
III. Algorithmic Advances
Solving Hard Mixed-Integer Programs for Electricity Generation	153	(14)
S. Ceria
An Interior-Point/Cutting-Plane Algorithm to Solve the Dual Unit Commitment Problem--On Dual Variables, Duality Gap, and Cost Recovery	167	(18)
M. Madrigal
V. H. Quintana
Building and Evaluating Genco Bidding Strategies and Unit Commitment Schedules with Genetic Algorithms	185	(26)
C. W. Richter, Jr.
G. B. Sheble
An Equivalencing Technique for Solving the Large-Scale Thermal Unit Commitment Problem	211	(16)
S. Sen
D. P. Kothari
IV. Decentralized Decision Making
Strategic Unit Commitment for Generation in Deregulated Electricity Markets	227	(22)
A. Baillo
M. Ventosa
A. Ramos
M. Rivier
A. Canseco
Optimization-Based Bidding Strategies for Deregulated Electric Power Markets	249	(22)
X. Guan
E. Ni
P. B. Luh
Y.-C. Ho
Decentralized Nodal-Price Self-Dispatch and Unit Commitment	271	(22)
F. D. Galiana
A. L. Motto
A. J. Conejo
M. Huneault
Decentralized Unit Commitment in Competitive Energy Markets	293	(24)
J. Xu
R. D. Christie
Index	317