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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)
CreatorsLi, F., Zhang, X. and Dunn, R. W.
Uncontrolled Keywordsflexible contracts, electricity supply industry, genetic algorithms, contract ordering, power system economics, partial service window, optimal standing reserve utilisation, contracts, tender options, economic contracting strategy
DepartmentsFaculty of Engineering & Design > Electronic & Electrical Engineering
RefereedNo
StatusPublished
ID Code6151

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