DEMO Based Optimal Power Purchase Planning Under Electricity Price Uncertainty

Due to the deregulation of the Electric Supply Industry and the resulting emergence of electricity market, the volumes of power purchases are on the rise all over the world. In a bid to meet the customer’s demand in a reliable and yet economic manner, utilities purchase power from the energy market over and above its own production. This paper aims at developing an optimal power purchase model with two objectives viz economy and environment ,taking various functional operating constraints such as branch flow limits, load bus voltage magnitudes limits, unit capacity constraints and security constraints into consideration.The price of purchased power being an uncertain variable is modeled using fuzzy logic. DEMO (Differential Evolution For Multi-objective Optimization) is used to obtain the pareto-optimal solution set of the multi-objective problem formulated. Fuzzy set theory has been employed to extract the best compromise non-dominated solution. The results obtained on IEEE 30 bus system are presented and compared with that of NSGAII. Keywords—Deregulation, Differential Evolution, Multi objective Optimization, Pareto Optimal Set, Optimal Power Flow