Parametric Analysis: Determining the Efficacy of Varied Approaches under Deregulated Electricity Market

Abstract

“The deregulation of power systems and the restructuring of energy utilities into new competitive markets make some novel conditions in the system function”. In such conditions, the solutions of the issues bring new challenges in designing the integrated system. Previously, three contributions were established on the topic of deregulated electricity market (DEM) enhancement. The first contribution deployed the hybrid model termed as “Group Search with Gravitational Force (GS-GF) to meet demand side management principles”. The second contribution concerned on solving the issues of profit maximization using “hybrid Krill Herd and Sine-Cosine Algorithm (KHSCA)” for DEM. Accordingly, the third contribution presented a hybrid “Cuckoo Search GWO (CS-GWO) algorithm” to resolve profit based issues under deregulated power market. This work intends to make a parametric analysis among the three works, thereby determining the most appropriate model that would highly assist in the enhancement of deregulated electricity market.