Power Purchase agreement via multi-objective optimisation in restructured ELECTRICITY MARKETS

In new reformed of electricity industry buying electricity is based up on several considerations. Power purchase agreement (PPA) depends on the evaluation of a number of alternatives in the terms of different criteria. The problem may become a very difficult one when the criteria are expressed in different units or the pertinent data are difficult to be quantified. The analytic hierarchy process (AHP) is an effective approach in dealing with a kind of optimisation technique. Also multi-objective many objects in real life problems may not have precisely defined on “completely true" or “completely false” judgment, while fuzzy sets come to fill this gap. Deregulated power environments faced many uncertainties that lead decision makers to use such techniques. This paper focuses on the implementation a combinatorial approach of fuzzy–AHP aimed to electricity transaction as a major economic issue.