Optimization Technique (PSO & APSO) To Crack Bidding Problem For Participant In Electricity Market
In an open competitive electricity market generators (supplier) and large consumer (buyer) need a suitable bidding
model for enhancing their profits. Therefore, each generators (supplier) and large consumer (buyer) will bid strategically for
the selection of bidding coefficients to check out the rivals bidding strategy. In this paper, bidding strategy problem is treated
as an optimization problem and solved using Particle Swarm Optimization (PSO) and Adaptive Particle Swarm Optimization
(APSO). First we have initialized The system with a population of random solutions and searches for optimal result in problem
space by updating generation. In PSO, the potential solutions, known as particles, fly through the problem space in all
direction by following the current optimum solution (particle). APSO is proposed to improve the performance of PSO (i.e.
weight update technique is different in APSO and weight vary according to performance of particle). A numerical problem
with six Generator (suppliers) and two large consumers (buyer) is used to describe the essential features of the proposed
method. The results indicate that the APSO is better than PSO with respect to total profit.