Abstract
This research examines a low-carbon power dispatch problem under uncertainty. A hybrid uncertain multi-objective bi-level model with one leader and multiple followers is established to support the decision making of power dispatch and generation. The upper level decision maker is the regional power grid corporation which allocates power quotas to each follower based on the objectives of reasonable returns, a small power surplus and low carbon emissions. The lower level decision makers are the power generation groups which decide on their respective power generation plans and prices to ensure the highest total revenue under consideration of government subsidies, environmental costs and the carbon trading. Random and fuzzy variables are adopted to describe the uncertain factors and chance constrained and expected value programming are used to handle the hybrid uncertain model. The bi-level models are then transformed into solvable single level models using a satisfaction method. Finally, a detailed case study and comparative analyses are presented to test the proposed models and approaches to validate the effectiveness and illustrate the advantages.
Highlights
The power generation industry has a far-reaching impact on a country’s development
Three comparisons are given; the first is based on the satisfaction degree, the second based on the confidence level and the third is a comparison between the chance constrained model and the expected value model
This study investigated a low carbon based power dispatch problem under an uncertain environment and proposed an efficient, powerful bi-level multi-objective decision-making model with carbon related objectives
Summary
The power generation industry has a far-reaching impact on a country’s development. As power is extremely difficult to store, optimal dispatch can reduce power losses and increase power quality, bringing benefits to both industry and residential consumers.To optimize market resource allocation, power generation companies and power grid companies are often controlled by different stakeholders, each of which has their respective business scope and legal responsibilities [1]. From an evaluation of real life systems, the electric power dispatch problem has four main characteristics: (1) There are interacting decision-making units within a hierarchical structure, with the power grid company on the upper level and the power generation groups on the lower or subordinate level; (2) Each subordinate level power generation group executes pricing and generation policies after considering the decisions of the upper level power grid company; (3) Each power generation group unit maximizes net benefits independently of the other units, but may be affected by the actions and reactions of those units; (4) The external effect of the decision-makers’ problems are reflected in the objective functions and the set of feasible decisions. As there has been little research into bi-level power dispatch systems, this paper seeks to develop a more suitable bi-level programming approach to deal with a comprehensive power dispatch problem
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