Risk-based stochastic short-term maintenance scheduling of GenCos in an oligopolistic electricity market considering the long-term plan

Abstract

Maintenance of the generation units is critically important due to reliability of power grid. However, the operation of the grid is directly impacted by the generation maintenance scheduling (GMS). In order to avoid a decrease in the required reserve power, it is necessary to coordinate the planned outage of power plants by the independent system operator (ISO) in a restructured environment. In this study, the risk-constrained short-term GMS problem in an oligopolistic electricity market is accomplished to decrease the risk of reserve power shortage. Decision-making under uncertainty of price and behavior of rivals in an electricity market are investigated. Moreover, the possibility of offering some proposals for maintenance intervals by the generation companies (GenCos) is also considered. Although all the proposals are considered by the ISO, there is no guarantee for their approval, due to the security constraints. In the case that the priorities for a typical GenCo are unacceptable, the offers for the unaccepted intervals are recognized and minimum reserve level is decreased by the ISO. Moreover, the long-term maintenance scheduling is established for provision of the rivals’ behavior of individual GenCos. IEEE reliability test system is employed to assess the effectiveness of the proposed GMS.