Abstract
This paper presents a multi-objective optimization block-bidding model for electricity markets, which take the minimum of the pool purchase cost and the minimum of the pollution into consideration. It proposes two algorithms to solve the multi-objective block-bidding model. One of them is fuzzy algorithm. Firstly, solving two single-objective blocks bidding model by normal algorithm and gaining the value of objective function and the bidding results. Then fuzzifying the multi-objective by using fuzzy sets theory and reformulating it into a single-objective problem by means of max-min operator. Finally, acquiring the bidding results for multi-objective optimal by solving the problem. Another algorithm is constraint algorithm. Regarding the minimum of pollution air as a constraint of the minimum pool purchase cost single-objective optimal problem, and solving the problem and gaining the bidding results of multi-objective optimization. The numerical results show the validity of the model and two algorithms. Besides all benefits of the block bidding model, the model has the benefits of multi-objective optimization, therefore, it can ensure the fairness of multi-factor on generation bidder in electricity market.
| Original language | English |
|---|---|
| Pages (from-to) | 54-58 |
| Number of pages | 5 |
| Journal | Dianli Xitong Zidonghua/Automation of Electric Power Systems |
| Volume | 28 |
| Issue number | 10 |
| State | Published - 25 May 2004 |
| Externally published | Yes |
Keywords
- Block bidding
- Constrained algorithm
- Electricity market
- Fuzzy algorithm
- Multi-objective optimization