A unit commitment-based fuzzy bilevel electricity trading model under load uncertainty

Bo Wang, Xian zhong Zhou, Junzo Watada

    Research output: Contribution to journalArticle

    2 Citations (Scopus)

    Abstract

    In this study, we establish a bilevel electricity trading model where fuzzy set theory is applied to address future load uncertainty, system reliability as well as human imprecise knowledge. From the literature, there have been some studies focused on this bilevel problem while few of them consider future load uncertainty and unit commitment optimization which handles the collaboration of generation units. Then, our study makes the following contributions: First, the future load uncertainty is characterized by fuzzy set theory, as the various factors that affect the load forecasting are often assessed with some non-statistical uncertainties. Second, the generation costs are obtained by solving complicated unit commitment problems, rather than approximate calculations used in existing studies. Third, this model copes with the optimizations of both the generation companies and the market operator, where the unexpected load risk is particularly analyzed by using fuzzy value-at-risk as a quantitative risk measurement. Forth, a mechanism to encourage the convergence of the bilevel model is proposed based on fuzzy maxmin approach, and a bilevel particle swarm optimization algorithm is developed to solve the problem in a proper runtime. To illustrate the effectiveness of this research, we provide a test system-based numerical example and discuss about the experimental results according to the principle of social welfare maximization. Finally, we also compare the model and algorithm with conventional methods.

    Original languageEnglish
    Pages (from-to)103-128
    Number of pages26
    JournalFuzzy Optimization and Decision Making
    Volume15
    Issue number1
    DOIs
    Publication statusPublished - 2016 Mar 1

    Keywords

    • Bilevel programming
    • Electricity trading
    • Fuzzy set theory
    • Fuzzy value-at-risk
    • Particle swarm optimization
    • Unit commitment

    ASJC Scopus subject areas

    • Artificial Intelligence
    • Logic
    • Software

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