Abstract
This paper proposes a nodal ant colony optimization (NACO) technique to solve profit based unit commitment problem (PBUCP). Generation companies (GENCOs) in a competitive restructured power market, schedule their generators with an objective to maximize their own profit without any regard for system social benefit. Power and reserve prices become important factors in decision process. Ant colony optimization that mimics the behavior of ants foraging activities is suitably implemented to search the UCP search space. Here a search space consisting of optimal combination of binary nodes for unit ON/OFF status is represented for the movement of the ants to maintain good exploration and exploitation search capabilities. The proposed model help GENCOs to make decisions on the quantity of power and reserve that must be put up for sale in the markets and also to schedule generators in order to receive the maximum profit. The effectiveness of the proposed technique for PBUCP is validated on 10 and 36 generating unit systems available in the literature. NACO yields an increase of profit, greater than 1.5%, in comparison with the basic ACO, Muller method and hybrid LR-GA.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
