Optimal Bidding Strategy for Profit Maximization of Generation Companies based on Whale Optimization Algorithm in Day Ahead Market
نویسندگان
چکیده
منابع مشابه
Optimal Bidding Strategies of GENCOs in Day-Ahead Energy and Spinning Reserve Markets Based on Hybrid GA-Heuristic Optimization Algorithm
In an electricity market, every generation company (GENCO) attempts to maximize profit according to other participants bidding behaviors and power systems operating conditions. The goal of this study is to examine the optimal bidding strategy problem for GENCOs in energy and spinning reserve markets based on a hybrid GA-heuristic optimization algorithm. The heuristic optimization algorithm used...
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This paper presents a methodology based on Fuzzy Adaptive Particle Swarm Optimization (FAPSO) for the preparation of optimal bidding strategies corresponding unit commitment by Generation companies (Gencos) in order to gain maximum profits in a day-ahead electricity market. In a competitive electricity market with limited number of suppliers, Gencos are facing an oligopoly market rather than a ...
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Problem statement: In a competitive electricity market with limited number of producers, Generation Companies (Gencos) is facing an oligopoly market rather than a perfect competition. Under oligopoly market environment, each Genco may increase its own profit through a favorable bidding strategy. The objective of a Genco is to maximize its profit and minimize the associated risk. In order to ach...
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With the formation of the competitive electricity markets in the world, optimization of bidding strategies has become one of the main discussions in studies related to market designing. Market design is challenged by multiple objectives that need to be satisfied. The solution of those multi-objective problems is searched often over the combined strategy space, and thus requires the simultaneous...
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The electricity market has evolved from a regulated monopoly to a more liberalized competitive market, which allows a generating company (GENCO) to bid to provide energy. The two-period structure of the electricity market (day-ahead and real-time market) introduces a mechanism for determining the GENCO’s optimal bidding strategy. The difference between clearing prices for each period adds uncer...
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ژورنال
عنوان ژورنال: International Journal of Computer Applications
سال: 2018
ISSN: 0975-8887
DOI: 10.5120/ijca2018916867