Fractional Programming Approach to a Cost Minimization Problem in the Electricity Market

  • Tatiana Gruzdeva Matrosov Institute for System Dynamics and Control Theory, Siberian Branch of the Russian Academy of Sciences
  • Rentsen Enkhbat Matrosov Institute for System Dynamics and Control Theory, Siberian Branch of the Russian Academy of Sciences, Irkutsk, Russia; National University of Mongolia, Ulaanbaatar, Mongolia
  • Natsagdorj Tungalag National University of Mongolia, Ulaanbaatar, Mongolia

Abstract

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 develop a fractional model  that quite adequately represents the real data. The problem obtained turned out to be
 a fractional minimization problem over a  box constraint. To solve the problem, we propose a method that employs the global search theory for d.c. minimization.

Published
2018-02-13
How to Cite
GRUZDEVA, Tatiana; ENKHBAT, Rentsen; TUNGALAG, Natsagdorj. Fractional Programming Approach to a Cost Minimization Problem in the Electricity Market. Yugoslav Journal of Operations Research, [S.l.], v. 29, n. 1, p. 43-50, feb. 2018. ISSN 2334-6043. Available at: <https://yujor.fon.bg.ac.rs/index.php/yujor/article/view/598>. Date accessed: 24 nov. 2024.
Citation Formats
Issue
Vol 29 No 1 (2019)
Section
Articles
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This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

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