E3S Web Conf.
Volume 167, 20202020 11th International Conference on Environmental Science and Development (ICESD 2020)
|Number of page(s)||7|
|Published online||24 April 2020|
Impact of emission trading and renewable energy support scheme on the optimality of generator side bidding
Electrical Engineering Department, MANIT Bhopal, India
As a major Green House Gases (GHG) producer, CO2 in particular, the electricity industry’s emissions have turned in to a matter of immense concern in many countries, especially in India. India’s economy and fast economic development has attracts the attention of the world. Emission trading schemes (ETS) and renewable energy support schemes (RESS) are implemented by the various developed countries to alleviate the affect of GHG emissions. In this paper, an optimization based market simulation approach is proposed with the consideration of emission trading schemes and renewable support schemes. To simulate the bidding strategy and for profit maximization, a particle swarm optimization (PSO) algorithm is used. As above problem is a multi-objective optimization problem, Where, in the first level each Genco submit the bid to the independent system operator and in the next level a optimization method is used for the determination of optimal bidding with the implementation of emission trading schemes and renewable support schemes. It is assumed that each generator should submit bid as a price taker’s in sealed auction based on pay-as-bid market clearing price mechanism. The practicability of proposed optimization method is checked by an IEEE-30 bus test system consists of six suppliers.
© The Authors, published by EDP Sciences, 2020
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