Genetic algorithm evolution of utility bidding strategies for the competitive marketplace

Journal Article · Sat Jan 31 23:00:00 EST 1998 · IEEE Transactions on Power Systems

DOI:https://doi.org/10.1109/59.651644· OSTI ID:605732

Richter, Jr, C W; Sheble, G B ^[1]

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1. Iowa State Univ., Ames, IA (United States)

This paper describes an environment in which distribution companies (discos) and generation companies (gencos), buy and sell power via double auctions implemented in a regional commodity exchange. The electric utilities` profits depend on the implementation of a successful bidding strategy. In this research, a genetic algorithm evolves bidding strategies as gencos and discos trade power. A framework in which bidding strategies may be tested and modified is presented. This simulated electric commodity exchange can be used off-line to predict whether bid strategies will be profitable and successful. It can also be used to experimentally verify how bidding behavior affects the competitive electric marketplace.

• OSTI ID: 605732
• Journal Information: IEEE Transactions on Power Systems, Journal Name: IEEE Transactions on Power Systems Journal Issue: 1 Vol. 13; ISSN ITPSEG; ISSN 0885-8950
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
ALGORITHMS
COMPETITION
DEREGULATION
ELECTRIC POWER INDUSTRY
ELECTRIC UTILITIES
POWER GENERATION
POWER TRANSMISSION
PROPOSALS
SPOT MARKET