Hybrid Differential Evolution with BBO for Genco’s multi-hourly strategic bidding
Hybrid Differential Evolution with BBO for Genco’s multi-hourly strategic bidding
Source:https://www.bath.ac.uk
Evolving Electricity Markets (EMs) are oligopolistic owing to few suppliers, expensive energy storage, demand generation imbalance, etc. Gencos bid in such markets with an aim to maximize profit. Market settlement between supplier and consumer bids determine Market Clearing Price (MCP). Optimal bidding strategy of a Genco for Pay-as-MCP (PAMCP) pricing is based on the accurate prediction of MCP which cannot be considered deterministic in an oligopolistic market.
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