Cooperative Game Theory by Considering Uncertainty in Electricity Master Plan Development
Wiwit Marta Pangesty Putri (a,b*), Shi-Woei Lin (b), Erwin Widodo (a)

a) Industrial Engineering Department, Institut Teknologi Sepuluh Nopember, Teknik Kimia street, 60111 Surabaya, Indonesia
*wiwit.marta[at]gmail.com
b) Industrial Management Department, National Taiwan University of Science and Technology, No. 43號 Section 4 Keelung Rd, Taipei City 106, Taiwan

Abstract

In this paper, a stochastic economic dispatch (SED) model in thermal and hydro power plant combined with cooperative game theory to seek minimum cost is proposed. Power demand and power unavailability of each type of power source are also considered. In SED problem, it is important to model uncertain behavior of the random variables through stochastic operating strategies, as it produces lower cost in resource scheduling compared to traditional deterministic approaches. However, as the problem becomes bigger, it will require high computational requirements. Therefore, SED model will be decomposed into two stages. The first stage will generate N Monte Carlo scenarios of power demand and unavailability, then power dispatch will be optimized using the hybrid intelligent algorithm (particle swarm optimization and artificial fish swarm algorithm). In the second stage, each optimal scenario is simulated to evaluate the corresponding expected cost. Finally, cooperative game theory will pick the best arrangement for all players including investment, expected operational, generation cost, and load dispatch cost.

Keywords: Economic Dispatch, Stochastic Modeling, Cooperative Game Theory

Topic: Industry Engineering