In this paper, an algorithm to solve the Price Based Unit Commitment Problem (PBUCP) under deregulated environment has been proposed using Shuffled Frog Leaping Algorithm (SFLA) intelligent technique to maximize the GENeration COmpanies (GENCOs) profit. Price / Profit-based UC formulation which considers the softer demand constraint and allocates fixed and transitional costs to the scheduled hours. Deregulation in power sector increases the efficiency of electricity production and distribution, offer lower prices, higher quality, a secure and a more reliable product to consumers. This methodology performed great challenges for the power industry and thus an individual human can take their own decision by choosing the reliable continuous supply of power from the electricity markets at an affordable price. Under restructured system, GENCOs schedules their generators with the objective of maximizing their profit. This proposed algorithm is for a small unit test system with 10 units 24 hour data and the simulations are carried out to show the performance of proposed methodology using MATLAB software. It is observed from the simulation results that the proposed algorithm provides maximum profit with less computational time compared to existing methods.
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