A Hybrid PS-BFO Approach for Profit based Unit Commitment Problem in Competitive Power Market

Abstract

The development in the restructuring of electric utility causes for the change in the system operation, control and planning of generating units. In the vertically integrated structure, the electric utility has to generate power to satisfy the customer demand, but in a horizontally integrated structure it is not. In the vertically integrated structure, the main aim of the generating units (GENCOs) is to reduce the total power generating cost and maximize their own profit is acknowledged as Profit based unit commitment (PBUC). The independent system operator (ISO) in the market helping the GENCOs, to trade the power generated and reserve power in the ancillary open competitive power market. The forecasted spot and reserve power prices are plays a more significant role in the decision-making process. The amount to be paid towards the reserve power is depends on how much quantity of power and reserve sold in the power marketplace. PBUC problem is high dimensional, non-convex, mixed numerical optimization problem, which is very hard to solve. To help the GENCOs in the decision making the process, a new Hybrid Particle swarm based Bacterial foraging optimization (HPSBFO) method is proposed in this paper. The expediency of the HPSBFO method is presented with various test systems. This approach has been demonstrated with 3 unit and 10 unit (IEEE 39 bus) systems. Simulations were carried out and the outcome of the HPSBFO method is evaluated with further available methods. These results demonstrate the advantage of the proposed method with other methods.