Abstract
This paper aims to presents the studies of the Profit-Based Unit Commitment (PBUC) problem, which is a vital research problem of power system optimization. In the proposed research, the authors have epitomized the preliminary concept of profit based unit commitment problem along with mathematical formulation. A brief review of profit based unit commitment problem has been surveyed from 1959 to 2019. Also, the researcher has explored the concept of solution strategies and constraints handling mechanism. The proposed research study will be beneficial for new researchers, who are aggressively working in the expanse of profit-based unit commitment problem.
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