A.F. Al-Ajlouni, H.Y. Yamin, W. Qassem, and S.M. Shahidehpour
Electricity markets, generation scheduling, GenCo, fuzzy logic
This paper presents different fuzzy membership functions for maxi- mizing the GenCo’s profit in competitive electricity markets. Rect- angular, triangular and trapezoidal fuzzy membership functions are assigned for market prices and probability that reserves are called and generated. The proposed fuzzy membership functions produce an optimal profit fuzzy function that reflects the market uncer- tainties and helps in decision making. Transmission congestion is incorporated through locational marginal prices in the proposed formulation. IEEE 118-bus system is used to demonstrate the superiority of the proposed approach.
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