Preventive maintenance of generating units and lines, in a competitive electric energy environment is proposed. Inclusion of transmission constraints and forced outage rates, over a specified operational period is considered. For generator maintenance the objective of the ISO is to maintain adequate level of reliability throughout the operational period, for which Bender's decomposition technique is used. The objective of the GENCO is to maximize profit or to minimize loss in profit, for which transmission constrained price based unit commitment (TCPBUC), based on Lagrangian relaxation method is used. Bender's decomposition technique is used for line maintenance, with adequate level of reliability. A coordinating technique using penalty factors is incorporated to obtain convergence of the conflicting objectives. The transmission constraints are modeled using dc sensitivity factors. Detailed case studies of six-bus systems and IEEE RTS system are presented and discussed. © 2009 Elsevier Ltd. All rights reserved.