Application of Differential Evolution to Dynamic Economic Dispatch Problem with Transmission Losses under Various Bidding Strategies in Electricity Markets

Abstract

This paper presents the application of Differential Evolution (DE) algorithm to obtain a solution for Bid Based Dynamic Economic Dispatch (BBDED) problem including the transmission losses and to maximize the social profit in a deregulated power system. The IEEE-30 bus test system with six generators, two customers and two trading periods are considered under various bidding strategies in a day-ahead electricity market. By matching the bids received from supplying and distributing entities, the Independent System Operator (ISO) maximize the social profit, (with the choices available). The simulation results of DE are compared with the results of Particle swarm optimization (PSO). The results demonstrate the potential of DE algorithm and show its effectiveness to solve BBDED.