Profit and cost based thermal unit maintenance scheduling under price volatility

Hiroki Tajima, Junjiro Sugimoto, Ryuichi Yokoyama

    Research output: Chapter in Book/Report/Conference proceedingConference contribution

    Abstract

    This paper presents an improved both profit and cost based maintenance scheduling approach by using Reactive Tabu search (RTS) in competitive environment. In competitive power markets, electricity prices are determined by balance between demand and supply in electric power exchanges or bilateral contracts. So it is essential for system operation planners and market participants to take the volatility of electricity price into consideration. In the proposed maintenance scheduling method, firstly, electricity prices are forecasted for the targeted period using Artificial Neural Network (ANN). Secondly, the optimal combinatorial maintenance-scheduling problem is solved by using Reactive Tabu Search in the light of the electricity prices forecasted. This method proposes a new objective function by which the most profitable maintenance schedule would be attained. As an objective function, Opportunity Loss of Maintenance (OLM) is adopted to maximize the profit of Generation Companies (GENCOS). Finally, the proposed maintenance scheduling is applied to a practical power system test model to verify the advantages and effectiveness of the method.

    Original languageEnglish
    Title of host publicationProceedings of the IEEE Power Engineering Society Transmission and Distribution Conference
    Pages1-6
    Number of pages6
    Volume2005
    DOIs
    Publication statusPublished - 2005
    Event2005 IEEE/PES Transmission and DistributionConference and Exhibition - Asia and Pacific - Dalian
    Duration: 2005 Aug 152005 Aug 18

    Other

    Other2005 IEEE/PES Transmission and DistributionConference and Exhibition - Asia and Pacific
    CityDalian
    Period05/8/1505/8/18

    Keywords

    • Artificial Neural Network
    • Electricity Market
    • Electricity Price Forecasting
    • Power Generation Maintenance
    • Tabu Search

    ASJC Scopus subject areas

    • Engineering(all)
    • Energy(all)

    Fingerprint Dive into the research topics of 'Profit and cost based thermal unit maintenance scheduling under price volatility'. Together they form a unique fingerprint.

  • Cite this

    Tajima, H., Sugimoto, J., & Yokoyama, R. (2005). Profit and cost based thermal unit maintenance scheduling under price volatility. In Proceedings of the IEEE Power Engineering Society Transmission and Distribution Conference (Vol. 2005, pp. 1-6). [1547178] https://doi.org/10.1109/TDC.2005.1547178