Compound simulated annealing optimization algorithm for real time electricity pricing

Author(s): Ming-Yuan Cho, Jyh-Ming Chang
Electrical Department, National Kaohsiung University of Science and Technology, Kaohsiung ,Taiwan
International Journal of Smart Grid and Clean Energy, vol. 8, no. 4, July 2019: pp. 478-487
ISSN: 2315-4462 (Print)
ISSN: 2373-3594 (Online)
Digital Object Identifier: 10.12720/sgce.8.4.478-487

Abstract: This approach aims to develop an algorithm for dealing with real time electricity price. The impact factor and different portfolio of cost function including fuel cost, load valve effects, carbon dioxide emissions and capacitor displacement are contained in the calculation. The derived theory is an initiative of green energy pricing mechanism in a power system. The Standard IEEE 30-bus test system and its network branch data are put into practice to verify the model concepts. Compound Simulated Annealing and MATPOWER algorithm (CSAM) is capable of solving AC and DC types of optimal power flow problems with multiple discrete and continuous variables. Marginal cost pricing and cost of marginal carbon emissions comprise the basic elements of electricity price. The uniform and locational electricity price is calculated in the test systems separately. The results show this model is a fast speed and accurate solution solvers of electricity price. Moreover, real time energy price with cost of carbon emissions makes users pay a little bit more for their electricity consumption. It is not only to have an attitude of seeking energy-saving, but even to achieve a basis structure of green energy pricing movement.

Keywords: Impact factor, marginal carbon emissions cost, compound simulated annealing optimization
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