Multi-agent simulation of competitive electricity markets: Autonomous systems cooperation for European market modeling

Gabriel Santos, Tiago Pinto, Hugo Morais, Tiago M. Sousa, Ivo F. Pereira, Ricardo Fernandes, Isabel Praça, Zita Vale

    Research output: Contribution to journalJournal articleResearchpeer-review

    Abstract

    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.
    Original languageEnglish
    JournalEnergy Conversion and Management
    Volume99
    Pages (from-to)387-399
    ISSN0196-8904
    DOIs
    Publication statusPublished - 2015

    Keywords

    • Decision support in power systems
    • Electricity market simulation
    • Multi-agent systems
    • Ontologies

    Fingerprint

    Dive into the research topics of 'Multi-agent simulation of competitive electricity markets: Autonomous systems cooperation for European market modeling'. Together they form a unique fingerprint.

    Cite this