Stochastic dynamic generation models in electricity markets

Optimization models and algorithms for dynamic generation with multiple services in electricity markets are presented in this paper. One of optimal model aims at determining the total quantities of generation for three services such as real power, reactive power and reserve as a whole, another model is used for determining the generation quantities of each generating unit for three services at each hour in the dayahead markets. Some factor such as rated power factor, stochastic load, holding costs, short costs, start up costs and shut down costs are taken into consideration, and the proposed models are solved with the help of genetic programming. The results of a numerical example show that the quantities put into energy market, reactive power market and reserve market depend not only on the production costs, holding costs and short costs but also on stochastic load demands and the clear prices of three markets. Simulation analysis is accomplished with 10 units in Matlab software, and the results of the simulation are satisfactory.