IDEAS home Printed from https://ideas.repec.org/a/gam/jeners/v12y2019i7p1270-d219373.html
   My bibliography  Save this article

Optimization of the Contracted Electric Power by Means of Genetic Algorithms

Author

Listed:
  • Alfredo Alcayde

    (Department of Engineering, University of Almería, 04120 Almería, Spain)

  • Raul Baños

    (Department of Engineering, University of Almería, 04120 Almería, Spain)

  • Francisco M. Arrabal-Campos

    (Department of Engineering, University of Almería, 04120 Almería, Spain)

  • Francisco G. Montoya

    (Department of Engineering, University of Almería, 04120 Almería, Spain)

Abstract

An adequate selection of an energy provider and tariff requires us to analyze the different alternatives to choose one that satisfies your needs. In particular, choosing the right electricity tariff is essential for reducing company costs and improving competitiveness. This paper analyzes the energy consumption of large consumers that make intensive use of electricity and proposes the use of genetic algorithms for optimizing the tariff selection. The aim is to minimize electricity costs including two factors: the cost of power contracted and the heavy penalties for excess of power demand over the power contracted in certain time periods. In order to validate the proposed methodology, a case study based on the real data of energy consumption of a large Spanish university is presented. The results obtained show that the genetic algorithm and other bio-inspired approaches are able to reduce the costs associated to the electricity bill.

Suggested Citation

  • Alfredo Alcayde & Raul Baños & Francisco M. Arrabal-Campos & Francisco G. Montoya, 2019. "Optimization of the Contracted Electric Power by Means of Genetic Algorithms," Energies, MDPI, vol. 12(7), pages 1-13, April.
    • Handle: RePEc:gam:jeners:v:12:y:2019:i:7:p:1270-:d:219373
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1996-1073/12/7/1270/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/1996-1073/12/7/1270/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Tooraj Jamasb and Michael Pollitt, 2005. "Electricity Market Reform in the European Union: Review of Progress toward Liberalization & Integration," The Energy Journal, International Association for Energy Economics, vol. 0(Special I), pages 11-42.
    2. Paul L. Joskow, 2008. "Lessons Learned From Electricity Market Liberalization," The Energy Journal, , vol. 29(2_suppl), pages 9-42, December.
    3. Ma, Jinlong, 2011. "On-grid electricity tariffs in China: Development, reform and prospects," Energy Policy, Elsevier, vol. 39(5), pages 2633-2645, May.
    4. Antonio J. Conejo & Miguel Carrión & Juan M. Morales, 2010. "Decision Making Under Uncertainty in Electricity Markets," International Series in Operations Research and Management Science, Springer, number 978-1-4419-7421-1, April.
    5. Seyedeh Narjes Fallah & Ravinesh Chand Deo & Mohammad Shojafar & Mauro Conti & Shahaboddin Shamshirband, 2018. "Computational Intelligence Approaches for Energy Load Forecasting in Smart Energy Management Grids: State of the Art, Future Challenges, and Research Directions," Energies, MDPI, vol. 11(3), pages 1-31, March.
    6. Lin, Qiuzhen & Li, Jianqiang & Du, Zhihua & Chen, Jianyong & Ming, Zhong, 2015. "A novel multi-objective particle swarm optimization with multiple search strategies," European Journal of Operational Research, Elsevier, vol. 247(3), pages 732-744.
    7. Francisco G. Montoya & Alfredo Alcayde & Francisco M. Arrabal-Campos & Raul Baños, 2019. "Quadrature Current Compensation in Non-Sinusoidal Circuits Using Geometric Algebra and Evolutionary Algorithms," Energies, MDPI, vol. 12(4), pages 1-17, February.
    8. Suganthi, S.T. & Devaraj, D. & Ramar, K. & Hosimin Thilagar, S., 2018. "An Improved Differential Evolution algorithm for congestion management in the presence of wind turbine generators," Renewable and Sustainable Energy Reviews, Elsevier, vol. 81(P1), pages 635-642.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Wen-Tung Lee & Shih-Cheng Horng & Chi-Fang Lin, 2019. "Application of Ordinal Optimization to Reactive Volt-Ampere Sources Planning Problems," Energies, MDPI, vol. 12(14), pages 1-16, July.
    2. Francisco G. Montoya & Raúl Baños & Alfredo Alcayde & Francisco Manzano-Agugliaro, 2019. "Optimization Methods Applied to Power Systems," Energies, MDPI, vol. 12(12), pages 1-8, June.
    3. Raheela Jamal & Baohui Men & Noor Habib Khan & Muhammad Asif Zahoor Raja, 2019. "Hybrid Bio-Inspired Computational Heuristic Paradigm for Integrated Load Dispatch Problems Involving Stochastic Wind," Energies, MDPI, vol. 12(13), pages 1-23, July.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Tooraj Jamasb & Rabindra Nepal & Govinda R. Timilsina, 2017. "A Quarter Century Effort Yet to Come of Age: A Survey of Electricity Sector Reform in Developing Countries," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3).
    2. Fatras, Nicolas & Ma, Zheng & Duan, Hongbo & Jørgensen, Bo Nørregaard, 2022. "A systematic review of electricity market liberalisation and its alignment with industrial consumer participation: A comparison between the Nordics and China," Renewable and Sustainable Energy Reviews, Elsevier, vol. 167(C).
    3. Marino, Marianna & Parrotta, Pierpaolo & Valletta, Giacomo, 2019. "Electricity (de)regulation and innovation," Research Policy, Elsevier, vol. 48(3), pages 748-758.
    4. Bondarev, Anton & Weigt, Hannes, 2017. "Sensitivity of energy system investments to policy regulation changes: Application of the blue sky catastrophe," Working papers 2017/08, Faculty of Business and Economics - University of Basel.
    5. Ibarra-Yunez, Alejandro, 2015. "Energy reform in Mexico: Imperfect unbundling in the electricity sector," Utilities Policy, Elsevier, vol. 35(C), pages 19-27.
    6. Stefania Sitzia & Jiwei Zheng & Daniel Zizzo, 2015. "Inattentive consumers in markets for services," Theory and Decision, Springer, vol. 79(2), pages 307-332, September.
    7. Erdogdu, Erkan, 2010. "Electricity Market Reform: Lessons for developing countries," MPRA Paper 27317, University Library of Munich, Germany.
    8. Lin, Jiang & Kahrl, Fredrich & Yuan, Jiahai & Chen, Qixin & Liu, Xu, 2019. "Economic and carbon emission impacts of electricity market transition in China: A case study of Guangdong Province," Applied Energy, Elsevier, vol. 238(C), pages 1093-1107.
    9. Obermüller, Frank, 2017. "Explaining Electricity Forward Premiums - Evidence for the Weather Uncertainty Effect," EWI Working Papers 2017-10, Energiewirtschaftliches Institut an der Universitaet zu Koeln (EWI).
    10. Xiaoping He & David Reiner, 2015. "Why Do More British Consumers Not Switch Energy Suppliers? The Role of Individual Attitudes," Working Papers EPRG 1515, Energy Policy Research Group, Cambridge Judge Business School, University of Cambridge.
    11. Cheng, Chuntian & Chen, Fu & Li, Gang & Ristić, Bora & Mirchi, Ali & Qiyu, Tu & Madani, Kaveh, 2018. "Reform and renewables in China: The architecture of Yunnan's hydropower dominated electricity market," Renewable and Sustainable Energy Reviews, Elsevier, vol. 94(C), pages 682-693.
    12. Simona Bigerna & Maria Chiara D’Errico & Paolo Polinori, 2022. "Sustainable Power Generation in Europe: A Panel Data Analysis of the Effects of Market and Environmental Regulations," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 83(2), pages 445-479, October.
    13. Rabindra, Nepal & Tooraj, Jamasb, 2013. "Caught Between Theory and Practice: Government, Market, and Regulatory Failure in Electricity Sector Reforms," SIRE Discussion Papers 2013-22, Scottish Institute for Research in Economics (SIRE).
    14. Gaffney, F. & Deane, J.P. & Gallachóir, B.P.Ó, 2017. "A 100 year review of electricity policy in Ireland (1916–2015)," Energy Policy, Elsevier, vol. 105(C), pages 67-79.
    15. Hyland, Marie, 2016. "Restructuring European electricity markets – A panel data analysis," Utilities Policy, Elsevier, vol. 38(C), pages 33-42.
    16. Delia Vasilica Rotaru, 2013. "A Glance At The European Energy Market Liberalization," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 5(1), pages 100-110.
    17. Michael G. Pollitt, 2019. "The European Single Market in Electricity: An Economic Assessment," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 55(1), pages 63-87, August.
    18. Persefoni Mitropoulou & Eirini Papadopoulou & Georgia Dede & Christos Michalakelis, 2022. "Forecasting Competition in the Electricity Market of Greece: a Prey-Predator Approach," SN Operations Research Forum, Springer, vol. 3(3), pages 1-31, September.
    19. Bigerna, Simona & D'Errico, Maria Chiara & Polinori, Paolo, 2020. "Heterogeneous impacts of regulatory policy stringency on the EU electricity Industry:A Bayesian shrinkage dynamic analysis," Energy Policy, Elsevier, vol. 142(C).
    20. Bikeri Adline & Kazushi Ikeda, 2023. "A Hawkes Model Approach to Modeling Price Spikes in the Japanese Electricity Market," Energies, MDPI, vol. 16(4), pages 1-20, February.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jeners:v:12:y:2019:i:7:p:1270-:d:219373. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.