generator offers is more 59.91 MWh and total carbon of generation is less 196.63 ton than case 1, because the clean and expensive generator 4 is scheduled in case 2. The IPP purchases 69.64 MWh and sells 129.56 MWh from power trading. As for emission trading, the IPP purchases 325.25 ton and sells 519.84 ton carbon allowances. As shown in Table 4, for the case 2 total cost is more $487.27 than case 1, but the IPP gets $3332.04 by power trading and gets $4472.76 by carbon trading. Overall, the total revenue increases by $7804.8. Then total Profit = Power revenue ($3332.04) + Carbon revenue ($487.27) + bilateral contracts ($ 11667.25) = $19472.05. Thus, the case 2 max profit is total profit - total cost = $7317.53. Robustness test: For fair comparison, 20 populations and 100 test runs were conducted for each method. Comparison of total production costs over 100 runs is presented in Table 5. Figure 5 shows the convergence tendency of the average over 100 trials. Regarding convergence rate, the MPSO method can always generate precipitous convergence rate toward an acceptable solution, thus showing that the MPSO method has better convergence property than that obtained by the others. Table 5: Comparison of total production costs over 100 runs Methods Best($/day) Mean($/day) Worst($/day) MPSO 496.837 498.684 503.449 PSO 499.096 502.852 507.075 GA 520.332 523.176 530.996 EP 506.633 510.561 518.248 Fig. 5: Convergent characteristics of different methods VI. CONCLUSION This paper presented a new profit-based UC problem in restructured power system. The proposed algorithm finds the most economical scheduling plan for IPP by considering both power generation and carbon emission. Depending on power and carbon prices in the market, IPPs can now choose to sell or buy power and carbon in order to make their own profit maximize. An efficient MPSO-based method for solving the profit maximize problem is presented. 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Xibilia, “Chaotic sequences to improve the performance of evolutionary algorithms,” IEEE Trans. On Evolutionary Computation, vol. 7, pp. 289-304, Jun. 2003. Proceedings of the International MultiConference of Engineers and Computer Scientists 2012 Vol II, IMECS 2012, March 14 - 16, 2012, Hong Kong ISBN: 978-988-19251-9-0 ISSN: 2078-0958 (Print); ISSN: 2078-0966 (Online) IMECS 2012