Power Generation Pricing in Deregulated Environment for Hydrothermal Scheduling

With the increasing competition in each market the processes of competition has been introduced in the Power Market too. This results in the change of mechanism for the power system economics. With the inclusion of the competition in the market the energy is considered as the basic commodity for the daily life. This assumption of assuming the energy as a basic commodity evolves the new concept of bilateral contracts, bidding and auction etcThis work shows the profit obtained by the GENCOs in a deregulated environment. A proper difference in the profit has been shown what happens and how the profit changes with the implementation of bidding and without bidding. In order to show the effectiveness of this technique, the proposed approach is applied to test systems implementing different algorithms. The required computations were performed using MATLAB 2014 software. Numerical results obtained from this approach are compared with previously published papers form certified publications. LRPSO seems to give a better result with better social profit.