Abstract
Unit commitment (UC) along with economic load dispatch (ELD) is an integral optimisation problem in the power generation industry. In this paper, policy-based algorithms are developed to address dispatch problems under different system configurations with the benefit of providing flexibility in addressing several desired policies of decision-makers. A case study is conducted in a diesel-fired, power plant in central Philippines to elucidate the proposed approach. Three policies were created to effectively address the optimisation problem: 1) classic UC model; 2) buying and selling strategy; 3) continuous loading strategy with various issues being considered. Results show that the strategies exhibit a significant decrease in total costs and ease of implementation with respect to the current production schedule of the case firm. Furthermore, the second policy provides the least generated cost which implies that generating firms must consider the option to sell power when market prices reach desired levels.
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