Price Based Resource Scheduling with Renewable Energy in Emission Constrained Market Structure

Abstract

The deregulation and introduction of green technologies are the two key developments took place in electricity sector during the last decade. These developments have brought in several features into the system and increased complexity of system at planning ans well as operation level of power system. This paper deals with one of the key procedure of power system operation i.e., resource scheduling. In this paper, multi-objective aspects of resource scheduling in deregulated environment are examined treating both conventional and renewable energy sources as identical entities as per the market participation is concerned. The scheduling problem is formulated as a multi-objective problem with both economic as well as environmental aspects. The network and conventional/thermal generator constraints are remodelled pertaining to the market participation of renewable energy sources. Also, different scheduling scenarios are generated for analyzing the variation of different system and market parameters. The simulation results confirms the influence of weight factors or the importance assigned to objectives while the same have also affected the network parameters like scheduled renewable energy, reserve offer to market. Therefore, the proposed methodology can help in generation company/ independent system operator (ISO) in the selection of particular scheduling scenario pertaining to imposed compliances on emissions/renewable energy deployment obligations.