A Price-Based Unit Commitment Model Considering Uncertainties

In the regulated environment, unit commitment refers to optimizing generation resources to satisfy load demand at least cost. But in a deregulated power market, generation companies have no obligation to satisfy customers´ demands. Instead, they seek their maximum profits. This paper proposed a priced-based unit commitment algorithm for generation companies to maximize their profits. This algorithm considering uncertainties of energy prices was solved by cooperation of the greedy algorithm and quadratic program. A five-unit system was used to verify this algorithm.