A method for optimizing the offer price of collaborative power generators

Author

Phen Chiak See ; Fosso, O.B. ; Molinas, Marta ; Foosnas, Jan Andor

Author_Institution

Norwegian Univ. of Sci. & Technol., Trondheim, Norway

fYear

2013

fDate

16-20 June 2013

Firstpage

1

Lastpage

5

Abstract

This paper presents a method for determining the offer price of collaborative power generators. The method considers an alliance formed by G generators with n independent offer prices. They collaboratively propose an offer price to the electricity wholesale market. The binary knapsack problem aimed at finding the best generation share of each generator that yields the maximum return to the alliance is used to represent the problem. It is solved with a hybrid algorithm consisting genetic algorithm and dynamic programming. The method is intended for promoting the participation of new power generators in the electricity market by way of horizontal supply chain integration.

Keywords

dynamic programming; genetic algorithms; knapsack problems; power markets; pricing; best generation share; binary knapsack problem; collaborative power generators; dynamic programming; electricity wholesale market; genetic algorithm; horizontal supply chain integration; hybrid algorithm; offer price; Collaboration; Dynamic programming; Electricity; Electricity supply industry; Generators; Genetic algorithms; Indexes; Evolutionary computation; genetic algorithms; power generation economics; power generation planning;

fLanguage

English

Publisher

ieee

Conference_Titel

PowerTech (POWERTECH), 2013 IEEE Grenoble

Conference_Location

Grenoble

Type

conf

DOI

10.1109/PTC.2013.6652415

Filename

6652415