Optimization of Pool Contracts Using Intelligent Techniques and Calculation of Transmission Prices for Bilateral Contracts

The paper analyzes the approaches for transmission cost allocation and centralized pool-based electricity price calculation. It is required to identify the contribution of individual generators and loads to the line flows. A study on IEEE 26 bus system has been presented in this research work for calculating transmission prices for bilateral contracts between GENCOs and DISCOs at different buses. Intelligent techniques have been applied to minimize pool prices and optimize pool generation by minimizing transmission losses. The intelligent techniques used are Genetic Algorithm (GA) and Particle Swarm Optimization (PSO) and compared with conventional ELD method. MW-mile method is used to calculate the transmission pricing. The results of these techniques are compared, which show better performance of ELD GA technique over ELD PSO and ELD techniques.