Enhancing Aggregator profitability in the Electricity Market using modern metaheuristic optimization techniques

Sumit Banker; Jaydeep Chakravorty; Chetan Bariya; Tejal Chaudhary; Mitesh Priyadarshi

Enhancing Aggregator profitability in the Electricity Market using modern metaheuristic optimization techniques

Abstract

Exponentially increasing use of the DERs (Distributed Energy Resources) has also increased the complexity and problems associated to the power system. This research paper is a step towards the profit maximization of the aggregator, which is a representative entity on behalf of the consumers and prosumers. To enhance the profit of aggregators, the operating cost of the Electricity Market needs to be minimized. In this research paper metaheuristic optimization techniques, RCEDUMDA (Ring-Cellular Encode-Decode Univariate Marginal Distribution Algorithm) and CSO (Cuckoo Search Optimization) are implemented to solve the aggregator profit maximization problem. The system adopted for the problem is the IEEE 30-bus test system with the inclusion of the DERs and considering the optimal dispatch of generation within the system constraints limits. The framework opted for this paper incorporates the cost-based objective function, including the income from the electricity sales and generator operational cost. Both the metaheuristic optimization techniques are tested on the mentioned framework on the bases of convergence characteristics, computational efficiency, and solution quality. Simulation results reflect that the RCEDUMDA significantly outperforms CSO by 12% higher aggregator profit with 35.5% less convergence time and better stability. The results point out the potential of RCEDUMDA metaheuristic optimization technique in enhancing the aggregator decision making and profit in Electricity Market.

Keywords

References

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Details

Primary Language

English

Subjects

Electrical Energy Generation (Incl. Renewables, Excl. Photovoltaics)

Journal Section

Research Article

Authors

Sumit Banker ^*
0009-0004-4311-6537
India

Jaydeep Chakravorty This is me
0000-0003-0892-0453
India

Chetan Bariya
0009-0005-6388-3765
India

Tejal Chaudhary This is me
0009-0000-3584-8130
India

Mitesh Priyadarshi This is me
0009-0000-5784-6953
India

Publication Date

October 8, 2025

Submission Date

May 7, 2025

Acceptance Date

July 27, 2025

Published in Issue

Year 2025 Volume: 9 Number: 4

IZ

https://izlik.org/JA29YE97AK

Cite

RIS / Bibtex

APA

Banker, S., Chakravorty, J., Bariya, C., Chaudhary, T., & Priyadarshi, M. (2025). Enhancing Aggregator profitability in the Electricity Market using modern metaheuristic optimization techniques. Turkish Journal of Engineering, 9(4), 661-669. https://izlik.org/JA29YE97AK

AMA

1.Banker S, Chakravorty J, Bariya C, Chaudhary T, Priyadarshi M. Enhancing Aggregator profitability in the Electricity Market using modern metaheuristic optimization techniques. TUJE. 2025;9(4):661-669. https://izlik.org/JA29YE97AK

Chicago

Banker, Sumit, Jaydeep Chakravorty, Chetan Bariya, Tejal Chaudhary, and Mitesh Priyadarshi. 2025. “Enhancing Aggregator Profitability in the Electricity Market Using Modern Metaheuristic Optimization Techniques”. Turkish Journal of Engineering 9 (4): 661-69. https://izlik.org/JA29YE97AK.

EndNote

Banker S, Chakravorty J, Bariya C, Chaudhary T, Priyadarshi M (October 1, 2025) Enhancing Aggregator profitability in the Electricity Market using modern metaheuristic optimization techniques. Turkish Journal of Engineering 9 4 661–669.

IEEE

[1]S. Banker, J. Chakravorty, C. Bariya, T. Chaudhary, and M. Priyadarshi, “Enhancing Aggregator profitability in the Electricity Market using modern metaheuristic optimization techniques”, TUJE, vol. 9, no. 4, pp. 661–669, Oct. 2025, [Online]. Available: https://izlik.org/JA29YE97AK

ISNAD

Banker, Sumit - Chakravorty, Jaydeep - Bariya, Chetan - Chaudhary, Tejal - Priyadarshi, Mitesh. “Enhancing Aggregator Profitability in the Electricity Market Using Modern Metaheuristic Optimization Techniques”. Turkish Journal of Engineering 9/4 (October 1, 2025): 661-669. https://izlik.org/JA29YE97AK.

JAMA

1.Banker S, Chakravorty J, Bariya C, Chaudhary T, Priyadarshi M. Enhancing Aggregator profitability in the Electricity Market using modern metaheuristic optimization techniques. TUJE. 2025;9:661–669.

MLA

Banker, Sumit, et al. “Enhancing Aggregator Profitability in the Electricity Market Using Modern Metaheuristic Optimization Techniques”. Turkish Journal of Engineering, vol. 9, no. 4, Oct. 2025, pp. 661-9, https://izlik.org/JA29YE97AK.

Vancouver

1.Sumit Banker, Jaydeep Chakravorty, Chetan Bariya, Tejal Chaudhary, Mitesh Priyadarshi. Enhancing Aggregator profitability in the Electricity Market using modern metaheuristic optimization techniques. TUJE [Internet]. 2025 Oct. 1;9(4):661-9. Available from: https://izlik.org/JA29YE97AK