Fast Relax-and-Round Unit Commitment with Economic Horizons
The US energy system is increasingly under pressure to serve expanding data loads and to accommodate a larger number of generating units with varying technologies and own- ership structures. Therefore, developing new unit commitment methods remains a priority for reliable and affordable grid operations. We expand our novel computational method for unit commitment (UC) to include ramping constraints and long- horizon planning and provide a theoretical bound on its error. We introduce a fast novel algorithm to commit hydro-generators. We solve problems with thousands of generators at 5-minute market intervals. We show that our method can solve UC problems with over 20,000 generators in approximately 10 seconds on commodity hardware and that an increased planning horizon leads to sizable operational cost savings. We attain this runtime improvement by introducing a heuristic tailored for UC problems. Our method can be implemented using existing continuous optimization solvers and adapted for different applications. We prove a bound on the error of these solvers and show that it vanishes (in relative terms) as the problem becomes larger. We also introduce a fast and accurate hydro UC algorithm. Combined, these algorithms would allow an operator to make horizon-aware economic decisions for large systems with hydro units.