Optimal Scheduling in Electricity Markets by Swarm Intelligence

Optimal Generation of power in the electricity market by the stochastic search technique- Particle Swarm Optimization (PSO) is attempted in this paper. When all the market operators specify the format for submitting the rids of the supplies, the prominent one and the prominent one the most common format is the piecewise linear model. While, in a simple and distinct bidding mechanism, the merit order dispatch is sufficient to find the optimal schedule, the complexity in bidding of multiple supplies especially with nonlinear pattern calls for intelligent and stochastic search mechanism for the solution. This is an attempt to show the effect on market prices due to some of the parameters involved in bidding linear and quadratic smooth and non-smooth, merit order and stochastic approaches. The problem is illustrated using a simple market model (PJM) with five generators.