Application of Actor-Critic Learning Algorithm for Optimal Bidding Problem of a Genco

@article{Gajjar2002ApplicationOA,
  title={Application of Actor-Critic Learning Algorithm for Optimal Bidding Problem of a Genco},
  author={Gopal R. Gajjar and S. A. Khaparde and Pradeep B. Nagaraju and S. A. Soman},
  journal={IEEE Power Engineering Review},
  year={2002},
  volume={22},
  pages={55-55}
}
The optimal bidding for generation companies (GenCo) in the deregulated power market is an involved task. The problem is formulated in the framework of the Markov decision process (MDP), a discrete stochastic optimization method. When the time span considered is 24 hours, the temporal difference method becomes attractive for application. The cumulative profit over the span is the objective function to be optimized. The temporal difference technique and actor-critic learning algorithm is… CONTINUE READING
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