A mixed artificial Bee Colony algorithm for the time-of-use pricing optimization

Abstract

Demand side management (DSM) is proposed to solve the contradiction between supply and demand of electricity market. To avoid the peak load, time-of-use (TOU) pricing strategy plays an important role in DSM to affect the behavior of using electricity by the users. In this paper, we proposed a mixed artificial bee colony (mABC) algorithm to TOU pricing optimization. Different from traditional research which optimizes the time division and electricity price separately, we consider these two factors together and optimize them simultaneously through the proposed mABC. The experimental results on a real-world scenario show the superiority of the mABC over traditional state-of-the-art methods.