Bidding strategies of Gencos and large consumers in competitive electricity market based on TLBO

摘要

In this paper, a new optimization technique known as Teaching Learning Based Optimization (TLBO) algorithm is proposed so that the Gencos and large consumers participating in bidding in the day ahead competitive electricity market can suitably bid so as to govern the MCP (Market Clearing Price) in their favour. Here other small consumers are present in aggregate form. The auction process continues until any participant is willing to change its bidding data with an objective to win the bid at any particular hour of the trading period. The results obtained implementing TLBO optimization method outperforms than that obtained using PSO when tested with IEEE-30bus system with 6 Generating Companies (Gencos) and 2 large consumers.