Joint Operation of Several Types of Power Plants to Increasing Net Profit in Deregulated Power Market

This study proposes joint operation of power plant and electric energy storage plant in order to maximizing overall profit in a restructured electricity market. The goal is investigating the coupling efficiency on profit increment considering various intensities of power plant’s fuel constraint. In order to reach this goal, the amount of overall profits of fuel-constrained power plant, battery plant and their coupling are first calculated in a specific time interval. Then, the coupling efficiency is determined using incremental profit rate. Having an appropriate strategy to calculate this parameter is essential. Hence, a comprehensive approach to selfschedule of individual and coupled plants is developed. This comprehensive self-scheduling approach is therefore formulated and solved as a Mixed Integer Non-linear Programming (MINLP) problem. Numerical results for a case study are discussed.