Price-Based Commitment Decisions in the Electricity Market

1. Front Matter

   Pages i-xviii

   PDF

2. Introduction

   • Eric Allen, Marija Ilić

   Pages 1-4

3. The Unit Commitment Problem

   • Eric Allen, Marija Ilić

   Pages 5-10

4. Unit Commitment in a Deregulated Environment

   • Eric Allen, Marija Ilić

   Pages 11-16

5. Survey of the Dynamic Programming Formulation

   • Eric Allen, Marija Ilić

   Pages 17-21

6. Unit Commitment for an Individual Power Producer

   • Eric Allen, Marija Ilić

   Pages 23-29

7. Price Process of Electricity

   • Eric Allen, Marija Ilić

   Pages 31-56

8. Computational Complexity of Unit Commitment

   • Eric Allen, Marija Ilić

   Pages 57-78

9. Forward Contracts and Futures

   • Eric Allen, Marija Ilić

   Pages 79-88

10. Reserve Markets for Power System Reliability

    • Eric Allen, Marija Ilić

    Pages 89-97

11. Unit Commitment in Congested Transmission Systems

    • Eric Allen, Marija Ilić

    Pages 99-103

12. Conclusions

    • Eric Allen, Marija Ilić

    Pages 105-108

13. Back Matter

    Pages 109-242

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The series Advances in Industrial Control aims to report and encourage technology transfer in control engineering. The rapid development of control technology impacts all areas of the control discipline. New theory, new controllers, actuators, sensors, new industrial processes, computer methods, new applications, new philosophies . . . , new challenges. Much of this development work resides in industrial reports, feasibility study papers and the reports of advanced collaborative projects. The series offers an opportunity for researchers to present an extended exposition of such new work in all aspects of industrial control for wider and rapid dissemination. Deregulation of electricity markets is a worldwide activity with leading and distinctive developments occurring in the European and US markets. The immediate impact of these changes is felt in the higher levels of the power production hierarchy where tools to aid short-term economic decision making are needed. At the lower levels of the production control hierarchy the impact is to demand much more flexible unit operation so that the determined short-term goals can be met. Allen and Illic have produced this useful monograph on the decision algorithms needed to determine unit commitment proflles over the shorter time frame of hours and days. The method of dynamic programming has been used and the work covers modelling, cost function and construction, an introduction to dynamic programming and a detailed assessment of its use. The monograph comes complete with programs in Appendix D and with other appendices giving the necessary supporting theory.

• Electric Power
• environment
• modeling
• optimization
• programming
• uncertainty

• New York Power Pool, Schenectady, USA

  Eric Allen

• Dept. of Electical Engineering and Computer Science, M.I.T., Cambridge, USA

  Marija Ilić

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