OPF-based Market clearing procedure using Bacterial Foraging Algorithm and auction-based Market clearing procedures in a pool based electricity market — A comparison

Abstract

This paper proposes an Optimal Power Flow (OPF) based Market clearing procedure using the Bacterial Foraging Optimization Algorithm (BFOA). A comparison is made between the proposed method and the auction-based method. The IEEE 30 bus system is taken for case study. It is found that the OPF method is more reliable for setting the price of electricity in a pool based electricity market compared to the auction-based method.