Strategic Particle Swarm Inertia Selection for Electricity Markets Participation Portfolio Optimization
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Publication Date: | 2018 |
Other Authors: | , , |
Format: | Article |
Language: | eng |
Source: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Download full: | http://hdl.handle.net/10400.22/17117 |
Summary: | The portfolio optimization is a well-known problem in the areas of economy and finance. This problem has also become increasingly important in electrical power systems, particularly in the area of electricity markets, mostly due to the growing number of alternative/complementary market types that are being introduced to deal with important issues, such as the massive integration of renewable energy sources in power systems. The optimization of electricity market players’ participation portfolio comprises significant time constraints, which cannot be satisfied by the use of deterministic techniques. For this reason, meta-heuristic solutions are used, such as particle swarm optimization. The inertia is one of the most important parameter in this method, and it is the main focus of this paper. This paper studies 18 popular inertia calculation strategies, by comparing their performance in the portfolio optimization problem. A strategic methodology for the automatic selection of the best inertia calculation method for the needs of each optimization is also proposed. Results show that the proposed approach is able to automatically adapt the inertia parameter according to the needs in each execution. |
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Strategic Particle Swarm Inertia Selection for Electricity Markets Participation Portfolio OptimizationArtificial IntelligenceElectricity MarketInertia ParameterParticle Swarm OptimizationPortfolio OptimizationThe portfolio optimization is a well-known problem in the areas of economy and finance. This problem has also become increasingly important in electrical power systems, particularly in the area of electricity markets, mostly due to the growing number of alternative/complementary market types that are being introduced to deal with important issues, such as the massive integration of renewable energy sources in power systems. The optimization of electricity market players’ participation portfolio comprises significant time constraints, which cannot be satisfied by the use of deterministic techniques. For this reason, meta-heuristic solutions are used, such as particle swarm optimization. The inertia is one of the most important parameter in this method, and it is the main focus of this paper. This paper studies 18 popular inertia calculation strategies, by comparing their performance in the portfolio optimization problem. A strategic methodology for the automatic selection of the best inertia calculation method for the needs of each optimization is also proposed. Results show that the proposed approach is able to automatically adapt the inertia parameter according to the needs in each execution.This work has been developed in the scope of the European Union's Horizon 2020 Research and Innovation Programme under the Marie Sklodowska-Curie grant agreement No 703689 (project ADAPT) and grant agreement No 641794 (project DREAM-GO); and has also been supported by the CONTEST project – SAICT-POL/23575/2016. Ricardo Faia is supported by FCT Funds through SFRH/BD/133086/2017 (PhD scholarship).Taylor and FrancisRepositório Científico do Instituto Politécnico do PortoFaia, RicardoPinto, TiagoVale, ZitaCorchado, Juan Manuel2021-02-24T12:36:21Z20182018-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.22/17117eng10.1080/08839514.2018.1506971info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-03-13T13:06:29Zoai:recipp.ipp.pt:10400.22/17117Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T17:36:47.179210Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Strategic Particle Swarm Inertia Selection for Electricity Markets Participation Portfolio Optimization |
title |
Strategic Particle Swarm Inertia Selection for Electricity Markets Participation Portfolio Optimization |
spellingShingle |
Strategic Particle Swarm Inertia Selection for Electricity Markets Participation Portfolio Optimization Faia, Ricardo Artificial Intelligence Electricity Market Inertia Parameter Particle Swarm Optimization Portfolio Optimization |
title_short |
Strategic Particle Swarm Inertia Selection for Electricity Markets Participation Portfolio Optimization |
title_full |
Strategic Particle Swarm Inertia Selection for Electricity Markets Participation Portfolio Optimization |
title_fullStr |
Strategic Particle Swarm Inertia Selection for Electricity Markets Participation Portfolio Optimization |
title_full_unstemmed |
Strategic Particle Swarm Inertia Selection for Electricity Markets Participation Portfolio Optimization |
title_sort |
Strategic Particle Swarm Inertia Selection for Electricity Markets Participation Portfolio Optimization |
author |
Faia, Ricardo |
author_facet |
Faia, Ricardo Pinto, Tiago Vale, Zita Corchado, Juan Manuel |
author_role |
author |
author2 |
Pinto, Tiago Vale, Zita Corchado, Juan Manuel |
author2_role |
author author author |
dc.contributor.none.fl_str_mv |
Repositório Científico do Instituto Politécnico do Porto |
dc.contributor.author.fl_str_mv |
Faia, Ricardo Pinto, Tiago Vale, Zita Corchado, Juan Manuel |
dc.subject.por.fl_str_mv |
Artificial Intelligence Electricity Market Inertia Parameter Particle Swarm Optimization Portfolio Optimization |
topic |
Artificial Intelligence Electricity Market Inertia Parameter Particle Swarm Optimization Portfolio Optimization |
description |
The portfolio optimization is a well-known problem in the areas of economy and finance. This problem has also become increasingly important in electrical power systems, particularly in the area of electricity markets, mostly due to the growing number of alternative/complementary market types that are being introduced to deal with important issues, such as the massive integration of renewable energy sources in power systems. The optimization of electricity market players’ participation portfolio comprises significant time constraints, which cannot be satisfied by the use of deterministic techniques. For this reason, meta-heuristic solutions are used, such as particle swarm optimization. The inertia is one of the most important parameter in this method, and it is the main focus of this paper. This paper studies 18 popular inertia calculation strategies, by comparing their performance in the portfolio optimization problem. A strategic methodology for the automatic selection of the best inertia calculation method for the needs of each optimization is also proposed. Results show that the proposed approach is able to automatically adapt the inertia parameter according to the needs in each execution. |
publishDate |
2018 |
dc.date.none.fl_str_mv |
2018 2018-01-01T00:00:00Z 2021-02-24T12:36:21Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10400.22/17117 |
url |
http://hdl.handle.net/10400.22/17117 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
10.1080/08839514.2018.1506971 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Taylor and Francis |
publisher.none.fl_str_mv |
Taylor and Francis |
dc.source.none.fl_str_mv |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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RCAAP |
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RCAAP |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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