Journal
INTERNATIONAL JOURNAL OF ELECTRICAL POWER & ENERGY SYSTEMS
Volume 57, Issue -, Pages 148-155Publisher
ELSEVIER SCI LTD
DOI: 10.1016/j.ijepes.2013.11.045
Keywords
Deregulated electricity market; Two settlement model; Nash Equilibrium calculation; Competitive coevolutionary algorithms
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This paper investigates the use of competitive coevolutionary algorithms to calculate suppliers' optimal strategies in a deregulated electricity market. The two settlement model is used, consisting of a spot and a forward market. Agents can take part in both spot and forward transactions, and act strategically to maximise their profit from both markets. The strategic interactions of market agents are modelled as a non cooperative game. The competitive coevolutionary Algorithm is used to calculate the Nash Equilibrium strategies ensuring the best outcome for each agent. Results demonstrates the effectiveness of the coevolutionary approach to find the optimal strategies in different market situations. (C) 2013 Elsevier Ltd. All rights reserved.
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