Publication:
A least cost approach for power plant portfolio optimization in a regulated environment electricity supply industry with constraints

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dc.citedby0
dc.contributor.authorSelanduray H.en_US
dc.contributor.authorBoosroh M.H.en_US
dc.contributor.authorid26423299800en_US
dc.contributor.authorid6506812468en_US
dc.date.accessioned2023-12-29T07:51:41Z
dc.date.available2023-12-29T07:51:41Z
dc.date.issued2010
dc.description.abstractSimilar to other countries, in Malaysia, the daily demand exhibits large variations between weekdays and weekend and between peak and off peak hours. The ability to follow the load demand with reliable supply of electricity and optimal economic operation is of paramount importance, which is achieved by solving two power system scheduling problems, namely, unit commitment and economic dispatch. This paper proposes a hybrid method combining priority listing and dynamic programming as the solution tool for this study, with an ultimate objective of obtaining a least cost solution for the short-term scheduling period considered subject to unit and system constraints. An interactive model built using Microsoft Excel-VBA Macro program was used to perform simulations and analyses on small scale system consisting of four gas-fired units and two coal-fired units. The optimal solution for the system studied was achieved under a reasonable processing time. The least cost solution was found by using feasible combination of units that satisfies all constraints and with total minimum fuel cost, start-up cost and variable operating cost. Higher utilization of the more efficient units is a vital factor to achieve the least cost objective.en_US
dc.description.natureFinalen_US
dc.identifier.epage162
dc.identifier.issue3
dc.identifier.scopus2-s2.0-80051693758
dc.identifier.spage153
dc.identifier.urihttps://www.scopus.com/inward/record.uri?eid=2-s2.0-80051693758&partnerID=40&md5=7068868fe6c43dacf86fbe33985f3b90
dc.identifier.urihttps://irepository.uniten.edu.my/handle/123456789/30710
dc.identifier.volume11
dc.pagecount9
dc.sourceScopus
dc.sourcetitleInternational Energy Journal
dc.subjectDynamic programming
dc.subjectEconomic dispatch
dc.subjectPortfolio optimization and unit commitment
dc.subjectPriority listing
dc.subjectComputer simulation
dc.subjectDynamic programming
dc.subjectFinancial data processing
dc.subjectMacros
dc.subjectOptimization
dc.subjectScheduling
dc.subjectUser interfaces
dc.subjectCoal fired units
dc.subjectEconomic dispatch
dc.subjectEconomic operations
dc.subjectFuel cost
dc.subjectGas-fired
dc.subjectHybrid method
dc.subjectInteractive models
dc.subjectLeast cost
dc.subjectLeast-cost solutions
dc.subjectLoad demand
dc.subjectMacro program
dc.subjectMalaysia
dc.subjectMicroSoft
dc.subjectOptimal solutions
dc.subjectPortfolio optimization
dc.subjectPower plant portfolio
dc.subjectPower system scheduling
dc.subjectPriority listing
dc.subjectProcessing Time
dc.subjectShort-term scheduling
dc.subjectSmall-scale systems
dc.subjectStart-up costs
dc.subjectSystem constraints
dc.subjectUnit commitments
dc.subjectCosts
dc.titleA least cost approach for power plant portfolio optimization in a regulated environment electricity supply industry with constraintsen_US
dc.typeArticleen_US
dspace.entity.typePublication
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