Optimal power scheduling of thermal units considering emission constraint for GENCOs’ profit maximization

Abstract

In this paper, authors propose a novel method to determine an optimal solution for profit based unit commitment (PBUC) problem considering emission constraint, under a deregulated environment. In a restructured power system, generation companies (GENCOs) schedule their units with the aim of maximizing their own profit by relaxing demand fulfillment constraints without any regard to social benefits. In the new structure, due to strict reflection of power price in market data, this factor should be considered as an important ingredient in decision-making process. In this paper a social-political based optimization algorithm called imperialist competitive algorithm (ICA) in combination with a novel meta-heuristic constraint handling technique is proposed. This method utilizes operation features of PBUC problem and a penalty factor approach to solve an emission constrained PBUC problem in order to maximize GENCOs profit. Effectiveness of presented method for solving non-convex optimization problem of thermal generators scheduling in a day-ahead deregulated electricity market is validated using several test systems consisting 10, 40 and 100 generation units.