Probabilistic Model and Solution Algorithm for the Electricity Retailers in the Italian Market

Authors

  • Chefi Tricki
  • Gianpaolo Ghiani Dip. di Ingegneria dell’Innovazione, Università del Salento, Via Arnesano, 73100 Lecce - Italy
  • Roberto Musmanno Dip. di Elettronica, Informatica e Sistemistica, Università della Calabria, 87036 Rende (CS) - Italy

Keywords:

Probabilistic Models, Electricity Retailers, Hybrid Simulated Annealing Algorithm

Abstract

The paper considers the problem of maximizing the profits of a retailer operating in the Italian electricity market. The problem consists in selecting the contracts portfolio and in defining the bidding strategy in the wholesales market while respecting the technical and regulatory constraints. A novel solution method based on a enhanced discovery of the search domain in the simulated annealing technique has been developed for its solution and a set of realistic test problems have been generated for its validation. The experimental results show that our method outperforms the standard simulated annealing by an improvement gap of 20,48% in average.

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Published

2012-01-03

How to Cite

Tricki, C., Ghiani, G., & Musmanno, R. (2012). Probabilistic Model and Solution Algorithm for the Electricity Retailers in the Italian Market. Algorithmic Operations Research, 6(2), Pages 105 – 117. Retrieved from https://journals.lib.unb.ca/index.php/AOR/article/view/12410

Issue

Vol. 6 No. 2 (2011)

Section

Articles

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