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Moth Flame Optimization based optimal bidding strategy under transmission congestion in deregulated power market

In a deregulated electricity market, bidding is a complex task because of generation and demand uncertainty. Recently major concern is given for maximizing the profit of the customers. Therefore, bidding is very important work for Independent System Operator (ISO) to maximize the profit of the marke...

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Main Authors:	Gope, Sadhan, Dawn, Subhojit, Goswami, Arup Kumar, Tiwari, Prashant Kumar
Format:	Conference Proceeding
Language:	English
Subjects:	Algorithm Bidding Strategy Fires Generator Shift Factor (GSF) Generators ISO Market Clearing Price (MCP) Moth Flame Optimization (MFO) Optimization Power markets Power systems
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creator	Gope, Sadhan Dawn, Subhojit Goswami, Arup Kumar Tiwari, Prashant Kumar
description	In a deregulated electricity market, bidding is a complex task because of generation and demand uncertainty. Recently major concern is given for maximizing the profit of the customers. Therefore, bidding is very important work for Independent System Operator (ISO) to maximize the profit of the market participant. In this paper, optimal bidding strategy of supplier under congested system has been proposed to maximize the profit of the market participant considering double sided bidding. Generator rescheduling based on the Generator Shift Factor (GSF) has been adopted in this paper for mitigating the congestion of the system. Moth Flame Optimization (MFO) algorithm has been used to obtain the solution of the bidding problem. A modified IEEE 30 bus system is used to analyze the bidding strategy in deregulated electricity market.
doi_str_mv	10.1109/TENCON.2016.7848076
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recordid	cdi_ieee_primary_7848076
source	IEEE Xplore All Conference Series
subjects	Algorithm Bidding Strategy Fires Generator Shift Factor (GSF) Generators ISO Market Clearing Price (MCP) Moth Flame Optimization (MFO) Optimization Power markets Power systems
title	Moth Flame Optimization based optimal bidding strategy under transmission congestion in deregulated power market
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