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Performance index based analysis is made to examine and highlight the effective application of Particle Swarm Optimization (PSO) to optimize the Proportional Integral gains for Load Frequency Control (LFC) in a restructured power system that operates under Bilateral based policy scheme. Various Integral Performance Criteria measures are taken as fitness function in PSO and are compared using overshoot, settling time and frequency and tie-line power deviation following a step load perturbation (SLP). The motivation for using different fitness technique in PSO is to show the behavior of the controller for a wide range of system parameters and load changes. Error based analysis with parametric uncertainties and load changes are tested on a two-area restructured power system. The results of the proposed PSO based controller show the better performance compared to the classical Ziegler-Nichols (Z-N) tuned PI and Fuzzy Rule based PI controller.

Integral Performance Criteria Based Analysis of Load Frequency Control in Bilateral Based Market