NDLI: An evolutionary algorithm for bid-based dynamic economic load dispatch in a deregulated electricity market

Content Provider	IEEE Xplore Digital Library
Author	Orike, S. Corne, D.
Copyright Year	2013
Description	Author affiliation: Dept. of Comput. Sci., Heriot-Watt Univ., Edinburgh, UK (Orike, S.; Corne, D.)
Abstract	The paper presents a novel evolutionary algorithm (EA) approach to solving the bid-based dynamic economic load dispatch problem in a deregulated electricity market. Power generating companies and customers submit bids in advance of each trading transaction, and these bids are matched by the market controller - the `independent system operator' (ISO), who conducts the dispatch, determines the prevailing market prices and corresponding supply/demand schedules for all generators and customers in a multi-player/multi-period transaction to maximize social profit. The optimization problem faced by the ISO is addressed in very recent literature, and is more realistic than related problems that have been studied in the optimization literature for several years, the so-called static and dynamic economic load dispatch problems (SELD and DELD). In this paper we use an EA with a smart mutation operator (which has proven successful on the SELD and DELD), which focuses mutation on genes contributing most to costs and penalty violations. We find our EA outperforms previous results on the bid-based problem, we also test three versions of the smart mutation operator, and we also define and show results on a new, larger test case for the bid-based problem.
Starting Page	313
Ending Page	320
File Size	353278
Page Count	8
File Format	PDF
e-ISBN	9781479915682
DOI	10.1109/UKCI.2013.6651322
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2013-09-09
Publisher Place	UK
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Economics Deregulation ISO Evolutionary algorithm Companies Bidding strategies Dynamic economic load dispatch Electricity supply industry Generators Optimization Power generation
Content Type	Text
Resource Type	Article

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