Modeling of Price Elasticity in Optimal Bidding Strategies by using Artificial Bee Colony (ABC)
V. Madhu Sudana Reddy1, B. Subramanyam2, M. Surya Kalavathi3
1V. Madhu Sudana Reddy, Associate Professor, Department of Electrical and Electronics Engineering, PBR Visvodaya Institute of Technology & Science, Kavali (Andhra Pradesh). India.
2Dr. B. Subramanyam, Professor, Department of Electrical and Electronics Engineering, PBR Visvodaya Institute of Technology & Science, Kavali (Andhra Pradesh). India.
3Dr. M. Suraya Kalavathi, Professor, Department of Electrical an Electronics Engineering, Jawaharlal Nehru Technological University, Hyderabad (Telangana). India.
Manuscript received on October 14, 2015. | Revised Manuscript received on October 26, 2015. | Manuscript published on November 05, 2015. | PP: 6-11 | Volume-5 Issue-5, November 2015 . | Retrieval Number: E2728115515/2015©BEIESP
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©The Authors. Published By: Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/
Abstract: The electrical power business has the difficulties to build benefits and minimize their related dangers in the business framework. In this paper proposed a versatile system of Artificial Bee Colony (ABC) for streamline the target capacity and to improve results, with variety of value flexibility (Price elasticity). The Demand expectation is resolved with utilization of Neural Network. The proposed calculation is taking into account conduct of honey bee province of honey bees. The outcomes will clarify about business sector conduct amid flexibility and inversatility. The execution of the proposed strategy could be actualized in the MATLAB.
Keywords: ABC, Price Elasticity, ANN, optimal bidding, electricity power market.