A MILP IGDT-Based Self-Scheduling Model For Participating In Electricity Markets

Nowadays, generation companies (Gencos) require precise programs in order to gain more profit in deregulated environment of electrical industry. One of the foremost of these programs is acquiring the optimal way for incorporating of own units (self-scheduling). Meanwhile, Gencos deal with some uncertainties, like undetermined market clearing price (MCP) which sometime has tremendous effects on Gencos' profit. In this paper, uncertainty of MCP is modeled by using a non-probabilistic method, named information gap decision theory (IGDT). Likewise, it is assumed that transmission lines are considered by Gencos so that obtaining their pricing blocks. A mixed integer linear program (MILP) model is provided and solved for a risk averse Genco. Conclusively, the model is applied to the 24-bus IEEE standard system.