Assessment of Power Market for Carbon Trading by Modified Particle Swarm Optimization.

In recent year, the awareness of environmental protection has made the power dispatch model on longer purely economical-oriented. This paper presents a modified particle swarm optimization (MPSO) approach to solve the Unit Commitment (UC) problem for 24 hours at the maximum profit in the power and carbon market. Solving the UC problem for 24 hours in the interconnected power network that is comprised of three independent areas to approach the best dispatching strategy. The UC problem must satisfy the constraints such as the load demand, generating limits, minimum up/down time and ramp rate limits, and also involves determining the limits of power flow, buses voltage and transmission line capacity. The Independent Power Producer (IPP) can obtain the maximum profit by the power and carbon trading amount and calculating power wheeling expense based on the 24-hour power and carbon forecasting trading data. Furthermore, it can also be assessed the basis of participating in the trading market or not. [ABSTRACT FROM AUTHOR]