Automatic Configuration of Genetic Algorithm for the Optimization of Electricity Market Participation Using Sequential Model Algorithm Configuration

Abstract

Complex optimization problems are often associated to large search spaces and consequent prohibitive execution times in finding the optimal results. This is especially relevant when dealing with dynamic real problems, such as those in the field of power and energy systems. Solving this type of problems requires new models that are able to find near-optimal solutions in acceptable times, such as metaheuristic optimization algorithms. The performance of these algorithms is, however, hugely dependent on their correct tuning, including their configuration and parametrization. This is an arduous task, usually done through exhaustive experimentation. This paper contributes to overcome this challenge by proposing the application of sequential model algorithm configuration using Bayesian optimization with Gaussian process and Monte Carlo Markov Chain for the automatic configuration of a genetic algorithm. Results from the application of this model to an electricity market participation optimization problem show that the genetic algorithm automatic configuration enables identifying the ideal tuning of the model, reaching better results when compared to a manual configuration, in similar execution times.