Influence of Wind Power on Modeling of Bidding Strategy in a Promising Power Market with a Modified Gravitational Search Algorithm
Source abstract
Abstract
It is expected that large-scale producers of wind energy will become dominant players in the future electricity market. However, wind power output is irregular in nature and it is subjected to numerous fluctuations. Due to the effect on the production of wind power, producing a detailed bidding strategy is becoming more complicated in the industry. Therefore, in view of these uncertainties, a competitive bidding approach in a pool-based day-ahead energy marketplace is formulated in this paper for traditional generation with wind power utilities. The profit of the generating utility is optimized by the modified gravitational search algorithm, and the Weibull distribution function is employed to represent the stochastic properties of wind speed profile. The method proposed is being investigated and simplified for the IEEE-30 and IEEE-57 frameworks. The results were compared with the results obtained with other optimization methods to validate the approach.
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Research context
OpenAlex topics: Electric Power System Optimization · Energy Load and Power Forecasting · Smart Grid Energy Management
SciVX discovery tags are terminology-based. OpenAlex topics are source-provided classifications.
Affiliations
School of Electrical Skills, Bhartiya Skill Development University Jaipur, Rajstahan 302037, India
Department of Electrical Engineering, Malaviya National Institute of Technology Jaipur, Rajasthan 302017, India
BEARS, University Town, NUS Campus, Singapore 119077, Singapore
Ingenium Research Group, Universidad Castilla-La Mancha, 13071 Ciudad Real, Spain
Funding
Universidad de Castilla-La Mancha
References (23)
Show source-provided references
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