Congestion Management Using Multi-Objective Grenade Explosion Method

The operational aspects of power systems pose some of the most challenging problems encountered in the restructuring of electric power industry. This paper focuses on Congestion Management within an Optimal Power Flow (OPF) framework in the deregulated electricity market scenario. The conventional OPF problem is modified to create a mechanism that enables the market players to compete and trade, and simultaneously ensures that the system operation stays within the security constraints. The centralized/pool and bilateral dispatch functions of an Independent System Operator (ISO) are considered in this paper. Here, Multi-Objective Grenade Explosion Method (MO-GEM) based approach is presented to formulate as multi-objective optimization problem with competing fuel cost and system loss minimization as objective functions. The proposed approach is tested on IEEE 30 bus system. The simulation results revealed the capabilities of the proposed MO-GEM approach to generate well distributed Pareto optimal nondominated solutions of multi-objective generation cost and transmission loss minimization. Key WordsCongestion Management, Optimal Power Flow, Electricity Markets, Evolutionary Algorithms.