Optimal standing reserve utilisation using genetic algorithms
Reference:
Li, F., Zhang, X. and Dunn, R. W., 2001. Optimal standing reserve utilisation using genetic algorithms. In: Power Engineering Society Winter Meeting, 2001. IEEE, 2001-01-01.
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Abstract
This paper proposes a genetic algorithm (GA) based economic contracting strategy for standing reserve in a typical standing reserve market. The aim of the contracting procedure is to identify the standing reserve tenders to be contracted and the correct-contract order among the tender options received and scheduled reserve alternatives, to meet the reserve requirement at the lowest possible cost. The contract ordering is a simple problem when all options are rendering for a fixed period of time, however, it becomes troublesome with the presence of flexible contracts, i.e. with standing reserve only available for a partial service window. The proposed GA contracting strategy aims to address the complexity caused by flexible contracts. The results for a system with 16 fixed and flexible tender options are presented and compared with those of mixed integer linear programming (MILP) methods
Details
| Item Type | Conference or Workshop Items (Paper) |
| Creators | Li, F., Zhang, X. and Dunn, R. W. |
| Uncontrolled Keywords | flexible contracts, electricity supply industry, genetic algorithms, contract ordering, power system economics, partial service window, optimal standing reserve utilisation, contracts, tender options, economic contracting strategy |
| Departments | Faculty of Engineering & Design > Electronic & Electrical Engineering |
| Refereed | No |
| Status | Published |
| ID Code | 6151 |
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