In this paper, a new approach for maintenance scheduling of generating units of GENCOs in competitive environment is presented. In this environment, management of GENCOs and grid is separated, each maximizing its own benefit. The objective function for the GENCO is to sell electricity as much as possible, at proper time according to the market clearing price forecast. Various technical constraints such as generation capacity, duration of maintenances and maintenance continuity are being taken into account. The objective function of ISO is to maximize the reliability throughout the year; provided the energy purchase cost should be smaller than a predetermined amount when the units of GENCOs are out for maintenance. Therefore there are two objective functions for finding an optimum maintenance schedule in restructured power systems. In this paper we apply genetic algorithm methodology for finding the optimum preventive maintenance schedule of generating units

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