A research on the purchase quantity allocation between contract market and power auction market
- 10.2991/iske.2007.139How to use a DOI?
- Electricity market; electricity distribution; chance-constrained programming; genetic algorithm; risk analysis.
In an open electricity market, electricity purchasers will trade in two different ways of marketing. Contract and power auction market, a typical decision-making issue is how to determine purchasing proportion of two markets to reduce purchase expenses and avoid risks. Based on chance constrained programming, a new purchase decision-making optimization model with stochastic constraint of Distribution Company is simplified into a definite model. Solution is genetic algorithm based on stochastic simulation which coordinates purchase expenses and risks successfully. Finally, a numerical simulation demonstrates the optimal distribution strategy clearly. Results indicate that it’s helpful for electricity purchasers to seek optimal investment strategy in electricity market.
- © 2007, the Authors. Published by Atlantis Press.
- Open Access
- This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).
Cite this article
TY - CONF AU - Haihuan Wang AU - Bin Zou PY - 2007/10 DA - 2007/10 TI - A research on the purchase quantity allocation between contract market and power auction market BT - Proceedings of the 2007 International Conference on Intelligent Systems and Knowledge Engineering (ISKE 2007) PB - Atlantis Press SP - 812 EP - 817 SN - 1951-6851 UR - https://doi.org/10.2991/iske.2007.139 DO - 10.2991/iske.2007.139 ID - Wang2007/10 ER -