Fractional programming approach to a cost minimization problem in electricity market

This paper was motivated by a practical optimization problem that appeared in electricity market of Mongolia. We consider the total average cost minimization problem of power companies of the Ulaanbaatar city. By solving an identification problem, we developed a fractional model that quite adequatel...

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Bibliographic Details
Published in:Yugoslav Journal of Operations Research Vol. 29; no. 1; pp. 43 - 50
Main Authors: Gruzdeva, Tatiana, Enkhbat, Rentsen, Tungalag, Natsagdorj
Format: Journal Article
Language:English
Published: University of Belgrade 2019
Subjects:
average cost
d.c. programming
electricity market
fractional minimization
linearization
local search
ISSN:0354-0243, 1820-743X
Online Access:Get full text
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Summary:This paper was motivated by a practical optimization problem that appeared in electricity market of Mongolia. We consider the total average cost minimization problem of power companies of the Ulaanbaatar city. By solving an identification problem, we developed a fractional model that quite adequately represents the real data. The obtained problem turned out to be a fractional minimization problem over a box constraint, and to solve it, we propose a method that employs the global search theory for d.c. minimization. nema
ISSN:0354-0243
1820-743X
DOI:10.2298/YJOR171115003G