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In the current electricity market, the demand for power increases exponentially day by day. The ISO can boost the power sales by using “willingness to pay” approach on the consumers. This paper proposes a novel approach of scheduling power by incorporating willingness to pay of consumers into the load dispatch problem. The consumers with higher willingness to pay usually use appropriate capacity transmission...
With the current level of pollution in atmosphere caused by fossil fuel emissions, coupled with the ominous fuel scarcity, efficient generation at the power stations is necessary. This paper proposes a multi-objective optimization model to maximize social welfare using the Bees Foraging Algorithm (BFA) and Estimation of Distribution Algorithm (EDA) highlighting the importance of treating generator...
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