Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/18510
Title: A multimarket decision-making framework for GENCO considering emission trading scheme
Authors: Li, XR
Yu, CW
Xu, Z 
Luo, FJ
Dong, ZY
Wong, KP
Keywords: Carbon market
Electricity market
Emission trading schemes
Fuel market
Fuzzy differential evolution
Wind power
Issue Date: 2013
Publisher: Institute of Electrical and Electronics Engineers
Source: IEEE transactions on power systems, 2013, v. 28, no. 4, p. 4099-4108 How to cite?
Journal: IEEE transactions on power systems 
Abstract: In a multimarket environment, a GENCO produces electricity subject to a number of factors, including physical and environmental constraints, together with trading strategies in the electricity market (EM), fuel market (FM) and carbon market (CM). To assist a GENCO to maximize its profits from EM, FM and CM, this paper proposes a dynamic decision making model with two consecutive stages. Fuzzy differential evolution algorithm is used to solve this decision-making problem. Taking transactions in the three interactive markets into account, the proposed model has been tested for a GENCO consisting of seven thermal units and a wind farm. A rational tradeoff between the profit-making and emission reduction has been demonstrated by the GENCO using the proposed model, indicating a well alignment with the intended goal of the introducing emission trading scheme (ETS).
URI: http://hdl.handle.net/10397/18510
ISSN: 0885-8950
EISSN: 1558-0679
DOI: 10.1109/TPWRS.2013.2264329
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