Decision Making of Gencos Under Uncertainty for Bidding in Day-Ahead Electricity Market Using Point Estimate Method

Demand for energy and especially electric energy is growing strongly in modern society and in particular in developing countries, like Iran. This has been lead to use of government's annual budget for development, production and transfer of energy to consumers. In this paper, participatory planning of units has been considered based on price considering a system with 10 generators. The aim of paper is to maximize the profit through satisfying the technical constraints of units. There are many ways for studies related to uncertainty. The point estimate method is one of the newest and efficient methods for these studies. In this paper, uncertainties arising from load have been implemented on market studies using point estimate method. Numerical results show the power and optimality of proposed method.

Keywords:

Price Base Unit Commitment , Uncertainty , Point Estimate Method