Competitive Bidding in Electricity Markets with Carbon Emission by Using Particle Swarm Optimization

In this oligopolistic electricity market, the maximization of profit for generators is mainly dealt with the used bidding strategies. For selling of electricity with maximum profit power companies required suitable bidding models that includes power operating constraints and price uncertainty within the market. In this paper, we present particle swarm optimization (PSO) algorithms to determine bid prices and quantities under the rules of a competitive power market with using emission as a constraint. The Objective of this paper is the potential impacts of emissions trading on power industries and electricity markets. Increasing environmental issues and regulations have forced Generation companies (GENCOs) to review the policies being used for long term planning. Constraints on CO2 emission are restricted the GENCOs to adopt the green technologies.