Trade Optimizing Scheduling package

Abstract

Summary form only given. The Trade Optimizing Scheduling (TOS) package commits and dispatches the GenCo's resources as well as power interchanges to maximize the GenCo's profit while adhering to local load, reserve, and transmission constraints. It maximizes the GenCo profits/revenues subject to the available transmission capacity and its price, while fulfilling native GenCo load, reserves and bilateral contracts. TOS uses time dependent market prices for energy and reserve, which are: assumed to be independent of individual transactions on the market, i.e., the generation company may buy or sell energy and reserve at market prices independent of its own production. The TOS package is based on an augmented Lagrangian relaxation (ALR) algorithm which provides great flexibility and utility when scheduling the company assets for maximum revenues from its interchanges with the market and bilateral contracts.