Introduction of a new robust self-scheduling model for price-taker GenCos

In this paper a robust self scheduling model for a price taker GenCo, when participating in a day ahead power market, is introduced. For this purpose a new uncertainty set is developed to tackle with the uncertain coefficients. The proposed model helps in avoiding the profit loss corresponding to the uncorrelated values of coefficients. In addition a robust counterpart based on the proposed uncertainty set for a self scheduling problem is developed. The results of the study using a simulation model for thermal units reveals that the proposed model can be considered as an effective model for all GenCos specially for risk taker producers.