Integrated planning of power generation and trading in a competitive market

Abstract

Due to the introduction of competitive electricity markets power trading becomes a central task within the operational activities of electric generating companies. Therefore the demand for planning tools that are able to support an integrated planning of power generation and trading becomes obvious. In this paper an optimization method for this planning task in companies with hydro-thermal generation park is presented. Computation results performed on a close to reality system show that the approach is able to find optimal decisions considering the risk attitude of the generating company.