Smajo Bisanovic, Mensur Hajro, and Muris Dlakic
Electricity spot market, bilateral contracts, thermal unit commit-ment, mixed-integer linear programming
This paper addresses the thermal unit commitment problem for power generation companies that operating in the market environ- ment. The model for this problem is formulated as a deterministic optimization task where the optimal solution obtained using the 0/1 mixed-integer linear programming technique. The main feature of the model is that it provides a comprehensive and accurate represen- tation of operating costs and operating constraints for thermal units. The model have been incorporated a long-term bilateral contracts with defined profiles power and price, and forecasted market for hourly prices for day-ahead auction. Solution is achieved using the homogeneous and self-dual interior point method for linear program- ming with a branch and bound optimizer for binary programming. The effectiveness of the proposed model is demonstrated through case study with detailed discussion.
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