Optimum generation and VAr scheduling on a multi-objective framework using exchange market algorithm
by Abhishek Rajan; Tanmoy Malakar
International Journal of Advanced Intelligence Paradigms (IJAIP), Vol. 22, No. 3/4, 2022

Abstract: This paper presents an application of exchange market algorithm (EMA) in solving multi-objective optimisation problems of power systems. This optimisation algorithm is based on the activities of shareholders to maximise their profit in the exchange market. The uniqueness of this algorithm lies in the fact that, it enjoys double exploitation and exploration property unlike several other algorithms. In order to investigate its search capability, the EMA is utilised to solve power systems active and reactive related objectives simultaneously in presence of several nonlinear constraints. Both optimum generation and VAr planning problems are formulated as conventional optimal power flow (OPF) problem. Fuel cost (active related objective), transmission line loss and total voltage deviation (reactive related objectives) are taken as different objective functions. The multi-objective optimisation problem is performed through weighted sum approach. Both fuzzy and equal weight approach is utilised to declare the compromised solution. Programs are developed on MATLAB and simulations are performed on Standard IEEE-30 and IEEE-57 bus systems. The search capability of EMA in solving the multi-objective power system problems are compared with PSO based solutions.

Online publication date: Fri, 22-Jul-2022

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