A New Structure for Electricity Market Scheduling

On pool market structure, the generating units are typically dispatched in order of lowest to highest bid as needed to meet demand requirement as well as considering network constraints. Generally, no account is taken of generating unit's reliability when scheduling them. This paper proposes a new structure for electricity market to consider generating unit's reliability in the scheduling problem. GAMS (general algebraic modeling system) language has been used to solve the social welfare maximization problem using CPLEX optimization software with mixed integer programming.