Marketing Clearing Pricing using Flower Pollination Algorithm Technique
One of the various roles of Indian energy exchange is to discover the price for and minimizing the risk against
market settlement. This paper presents reliable and effective Flower Pollination Algorithm (FPA) technique for calculating
market clearing price for participating gencos. The technique has been applied to determine the optimal schedule of power
purchase in a thermal power system. The results are compared with conventional technique considering all equality and
inequality constraints for the standard 3-genco systems. It is found that results obtained using the FPA technique are
relatively better than the conventional technique in terms of price to be paid and also in terms of computation time.
Keywords - Market Clearing Price, Flower Pollination Algorithm, Particle Swarm Optimization, Economic Load Dispatch.