DocumentCode :
2378483
Title :
A New Optimal Dispatch Method for the Day-Ahead Electricity Market Using a Multi-objective Evolutionary Approach
Author :
Li, Dapeng ; Pahwa, Anil ; Das, Sanjoy ; Rodrigo, Deepal
Author_Institution :
Kansas State Univ., Manhattan
fYear :
2007
fDate :
Sept. 30 2007-Oct. 2 2007
Firstpage :
433
Lastpage :
439
Abstract :
In this paper, a novel approach to optimally operate a day-ahead electricity market with considerations of market power is proposed. First, this approach formulates the 1-hour based optimal dispatch problem as a nonlinear constrained multi-objective optimization problem which simultaneously minimizes fuel cost, emissions and the modified Herfindahl-Hirschman index. Then the Non-dominated Sorting Genetic Algorithm II (NSGA-II) is used to solve this optimization problem. Simulation results illustrate that this algorithm is capable of finding the Pareto-optimal front in a single run. The best operation schedule for the whole 24 hours can be chosen by taking the ramp rate constraints of generators into account. This approach can provide the market operator with much operating feasibility and thus is more realistic and feasible.
Keywords :
genetic algorithms; load dispatching; power markets; power system economics; day-ahead electricity market; multiobjective evolutionary; nondominated sorting genetic algorithm; nonlinear constrained multiobjective optimization problem; optimal dispatch method; Cost function; Electricity supply industry; Environmental economics; Fuel economy; Job shop scheduling; Monopoly; Optimal scheduling; Power generation economics; Power system economics; Power system protection; Economic dispatch; day-ahead electricity market; market power; multi-objective evolutionary algorithm;
fLanguage :
English
Publisher :
ieee
Conference_Titel :
Power Symposium, 2007. NAPS '07. 39th North American
Conference_Location :
Las Cruces, NM
Print_ISBN :
978-1-4244-1726-1
Electronic_ISBN :
978-1-4244-1726-1
Type :
conf
DOI :
10.1109/NAPS.2007.4402346
Filename :
4402346
Link To Document :
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