A least cost approach for power plant portfolio optimization in a regulated environment electricity supply industry with constraints

• Main Authors: Selanduray H., Boosroh M.H.
• Other Authors: 26423299800
• Format: Article
• Published: 2023
• Subjects: Dynamic programming; Economic dispatch; Portfolio optimization and unit commitment; Priority listing; Computer simulation; Financial data processing; Macros; Optimization; Scheduling; User interfaces; Coal fired units; Economic operations; Fuel cost; Gas-fired; Hybrid method; Interactive models; Least cost; Least-cost solutions; Load demand; Macro program; Malaysia; MicroSoft; Optimal solutions; Portfolio optimization; Power plant portfolio; Power system scheduling; Processing Time; Short-term scheduling; Small-scale systems; Start-up costs; System constraints; Unit commitments; Costs

Similar to other countries, in Malaysia, the daily demand exhibits large variations between weekdays and weekend and between peak and off peak hours. The ability to follow the load demand with reliable supply of electricity and optimal economic operation is of paramount importance, which is achieved...