Abstract:
Recently many countries have gone through deregulation and restructuring of the
electrical power systems with the aim of improving economic efficiency. In the
deregulated environment, the generation company (GENCO) finds the optimum
schedules of its energy to be sold in the market by running the profit-based dynamic
economic dispatch (PBDED) problem with its aim to maximize its own profit (revenue
minus generation cost). The objective of the PBDED is to maximize the GENCO's own
profit based on the forecasted energy demand and prices, while satisfying the generators'
ramp rate constraints and various other constraints. In [11], model predictive control
(MPC) method has been proposed for the periodic implementation of the optimal
solutions for the dynamic economic dispatch (DED) problem with periodic demand. In
this paper we applied the MPC approach proposed in [11] for the PBDED problem
under the assumption that both the energy price and demand is periodic. The
convergence and robustness of the MPC algorithms are demonstrated through the
application of MPC to the PBDED problem with a six-unit system.