Aspects of generation planning in competitive electricity markets

In the competitive electricity market, profit driven generation companies (Gencos) need to make decisions on generation scheduling, contract evaluation, bidding strategies and risk management for various planning horizons. Power System planning tools are available for different planning levels. However, increasing uncertainty and continuously changing regulatory structure and trading rules have prevented, to a great extent, the use of such planning tools. Hence, new approaches for generation planning are being investigated to meet these requirements. In this research, various aspects of generation planning in short and medium term such as generation scheduling, contract evaluation, risk management and bidding strategies, are identified and investigated in the context of certain trading rules, types of market structures, types of generation units, contract availability, market uncertainties and risk preferences of the participants.DOCTOR OF PHILOSOPHY (EEE