Rational Buyer and Genetic Algorithms for the Management of Ancillary Service Markets

Author

Delvecchio, G. ; La Scala, M. ; Pugliese, P. ; Labini, D. Sylos

Author_Institution

Univ. degli Studi di Bari

Volume

2

fYear

2005

fDate

21-24 Nov. 2005

Firstpage

1453

Lastpage

1456

Abstract

The rational buyer method is a computation method adopted by the California independent system operator to minimize the total procurement cost of the reserve power purchased by means of auctions. The method here proposed applies a genetic algorithm to the traditional rational buyer method and allows the independent system operator to minimize the total procurement cost and also to reduce the computation time. The new method turns out to be very useful, especially when auctions follow one another at a fast pace with a high number of bidders

Keywords

genetic algorithms; power markets; power system economics; California independent system operator; ancillary service markets; genetic algorithms; procurement cost; rational buyer; reserve power purchased; sequential auction; simultaneous auction; Costs; Energy management; Genetic algorithms; ISO; Power system management; Power system reliability; Power transmission; Procurement; Roentgenium; Spinning; Ancillary Services; Genetic Algorithms; Rational Buyer; Sequential and Simultaneous Auctions;

fLanguage

English

Publisher

ieee

Conference_Titel

Computer as a Tool, 2005. EUROCON 2005.The International Conference on

Conference_Location

Belgrade

Print_ISBN

1-4244-0049-X

Type

conf

DOI

10.1109/EURCON.2005.1630237

Filename

1630237