Abstract

In electric power market, the research of best bidding price is an important study, in which the calculation and description of node price is the key issue. Based on the highly effective ant colony algorithm, this paper proposes a methodology of best bidding for solving the optimal price model of the electric power market. We use the random global search capability of ant colony algorithm to deal with the constraints of power system operation and solve the optimization problem between power producers bidding and consumers demand, to estimate the wholesale or retail price in the electricity market. Finally, we use the IEEE 30 - bus test system as a pilot system to test the proposed methodology, and the test results and analysis show that the computational model has a certain degree of practical significance in our electric power market.

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