Dynamic economic dispatch in electricity market using particle swarm optimization algorithm

This paper has proposed a bid-based dynamic economic dispatch model to maximize the social profit in a competitive electricity market. The model synthetically considers various constraints such as ramp rates, transmission line capacity and emission constraints to obtain a physically feasible resourc...

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Bibliographic Details
Main Authors: Bo Zhao, Chuangxin Guo, Yijia Cao
Format: Conference Proceeding
Language:English
Subjects:
Cost function
Electricity supply industry
Optimal scheduling
Particle swarm optimization
Power generation economics
Power system dynamics
Power system economics
Power system modeling
Power transmission lines
Robustness
Online Access:Request full text
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Summary:This paper has proposed a bid-based dynamic economic dispatch model to maximize the social profit in a competitive electricity market. The model synthetically considers various constraints such as ramp rates, transmission line capacity and emission constraints to obtain a physically feasible resource scheduling. A particle swarm optimization (PSO) algorithm is applied to solve the problem. Numerical simulation results show that the proposed PSO method is capable of obtaining high quality dispatch solution efficiently; furthermore, the algorithm is versatile and robust.
DOI:10.1109/WCICA.2004.1343679