TY - JOUR
T1 - Multi-agent simulation of competitive electricity markets: Autonomous systems cooperation for European market modeling
AU - Santos, Gabriel
AU - Pinto, Tiago
AU - Morais, Hugo
AU - Sousa, Tiago M.
AU - Pereira, Ivo F.
AU - Fernandes, Ricardo
AU - Praça, Isabel
AU - Vale, Zita
PY - 2015
Y1 - 2015
N2 - The electricity market restructuring, and its worldwide evolution into regional and even continental scales, along with the increasing necessity for an adequate integration of renewable energy sources, is resulting in a rising complexity in power systems operation. Several power system simulators have been developed in recent years with the purpose of helping operators, regulators, and involved players to understand and deal with this complex and constantly changing environment. The main contribution of this paper is given by the integration of several electricity market and power system models, respecting to the reality of different countries. This integration is done through the development of an upper ontology which integrates the essential concepts necessary to interpret all the available information. The continuous development of Multi-Agent System for Competitive Electricity Markets platform provides the means for the exemplification of the usefulness of this ontology. A case study using the proposed multi-agent platform is presented, considering a scenario based on real data that simulates the European Electricity Market environment, and comparing its performance using different market mechanisms. The main goal is to demonstrate the advantages that the integration of various market models and simulation platforms have for the study of the electricity markets’ evolution.
AB - The electricity market restructuring, and its worldwide evolution into regional and even continental scales, along with the increasing necessity for an adequate integration of renewable energy sources, is resulting in a rising complexity in power systems operation. Several power system simulators have been developed in recent years with the purpose of helping operators, regulators, and involved players to understand and deal with this complex and constantly changing environment. The main contribution of this paper is given by the integration of several electricity market and power system models, respecting to the reality of different countries. This integration is done through the development of an upper ontology which integrates the essential concepts necessary to interpret all the available information. The continuous development of Multi-Agent System for Competitive Electricity Markets platform provides the means for the exemplification of the usefulness of this ontology. A case study using the proposed multi-agent platform is presented, considering a scenario based on real data that simulates the European Electricity Market environment, and comparing its performance using different market mechanisms. The main goal is to demonstrate the advantages that the integration of various market models and simulation platforms have for the study of the electricity markets’ evolution.
KW - Decision support in power systems
KW - Electricity market simulation
KW - Multi-agent systems
KW - Ontologies
U2 - 10.1016/j.enconman.2015.04.042
DO - 10.1016/j.enconman.2015.04.042
M3 - Journal article
SN - 0196-8904
VL - 99
SP - 387
EP - 399
JO - Energy Conversion and Management
JF - Energy Conversion and Management
ER -