Micro Genetic Algorithm based Optimal Power Dispatch in Multinode Electricity Market

-In deregulated environment there exist a number of buyers and sellers. An auction market is one of the competitive electricity market models with an explicit set of rules that determine resource allocations and prices on the basis of bids from market participants. The paper presents the application of the genetic algorithm (GA) to solve the Optimal Power Dispatch (OPD) problem for a multi-node auction market. The OPD problem is a non-linear optimization problem with several constraints. The objective of the proposed GA is to maximize the total participant’s benefit at all nodes in the system. The GAs are associated with high processing time. Most GAs produce poor results when populations are small. In contrast, Micro Genetic Algorithms (MGA) explore the possibility to work with small populations in order to reduce the processing time. The proposed algorithm using MGA for OPD of multi-node electricity market is simple to implement and can easily incorporate additional constraints. MGAs are more efficient to solve this kind of problem as they are faster and give nearly global optimal solutions. The developed algorithms are tested on a 17-node, 26line system.