A multi-agent based design of bidding mechanism for transmission loss reduction. (June 2016)

• Record Type: Journal Article
• Authors: Yu, Ying; Jin, Tongdan; Zhong, Chunjie; Wang, Chengwei
• Is Part Of: International journal of electrical power & energy systems. Volume 78(2016:Jun.)
• Page Start: 846
• Page End: 856
• Publication Date: 2016-06
• Subjects: Bayesian game theory -- Multi-agent system -- Power utilization ratio -- Support vector machine -- Virtual market clearing price; Electrical engineering -- Periodicals; Electric power systems -- Periodicals; Électrotechnique -- Périodiques; Réseaux électriques (Énergie) -- Périodiques; Electric power systems; Electrical engineering; Periodicals; 621.3
• DOI: 10.1016/j.ijepes.2015.12.015
• Languages: English
• ISSNs: 0142-0615

Abstract

Highlights: The bidding mechanism is based on generators' power utilization ratio. Developing a reachable set based loss allocation method. Minimizing transmission losses using iterative power adjustment procedure. Designing bidding strategy via support vector machine and Bayesian game. Abstract: This paper investigates a new bidding mechanism to minimize the transmission losses in a day-ahead market based on generators' power utilization ratio. A reachable set based loss allocation method is developed to assign active losses to generating companies (GenCos). The line losses borne by GenCos are characterized and measured by a loss adjustment factor. Power is allocated to GenCos based on the virtual market clearing price calculated via an iterative power adjustment procedure, aiming at minimizing the overall transmission losses. Under the multi-agent game framework, we further analyze GenCos' responsive bidding strategy which has not been adequately addressed in literature. The performance of the proposed bidding mechanism is extensively tested on the IEEE 14-bus system. The results show that the proposed bidding mechanism is able to lower the overall transmission losses.