Proceedings ArticleDOI
Agent-Based Models in Electricity Markets: A Literature Review
Priyanka Shinde,Mikael Amelin +1 more
- pp 3026-3031
TLDR
A review of the literature on different applications of ABM in electricity markets is provided in this paper, where it is shown that ABMs have been applied to a wide range of studies of different parts of electricity trading.Abstract:
The complexity of modeling electricity markets is increasing, due to for example increased penetration of renewable energy sources, electric vehicles and more active participation from the demand side. An analysis of a system with multiple market participants displaying certain behavior, could be difficult through an optimization problem. Due to several advantages, agent based approach can be followed to model the behavior of different market participants in the electricity markets. Lately, considerable amount of research work has been carried out on developing Agent-Based Models (ABMs) for electricity markets. This paper is aimed at providing a review of the literature on different applications of ABM in electricity markets. It is shown that ABMs have been applied to a wide range of studies of different parts of electricity trading. Some specific electricity markets modeled with ABMs have also been mentioned. According to the literature survey, the research gap is highlighted and future scope of work in this area is discussed.read more
Citations
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Journal ArticleDOI
Analyzing Trade in Continuous Intra-Day Electricity Market: An Agent-Based Modeling Approach
TL;DR: In this article, an agent-based modeling framework is proposed to analyze the behavior and the interactions between renewable energy sources, consumers and thermal power plants in the European Continuous Intra-day (CID) market.
Posted Content
Comparison and empirical validaton of optimizing and agent-based models of the Italian electricity market
Eric Guerci,Sandro Sapio +1 more
TL;DR: In this paper, the authors compare the explanatory performances of an agent-based model with a supply function equilibrium model on the same dataset, and find that the agent model is better able to capture the intraday profile of power prices, but both models tend to overestimate the degree of competition among generating companies.
Market Oriented Planning of Power Generation Expansion using Agent-based Model
TL;DR: The GR-GN-CONF-2004-001 view record in Web of Science Record created on 2007-05-01, modified on 2016-08-08 as mentioned in this paper.
Journal ArticleDOI
Optimal control of renewable energy in buildings using the machine learning method
TL;DR: In this paper , the optimal control of renewable energy in the green building using a powerful reinforcement learning control method is presented to minimize energy consumption and power losses in the distribution sector, where the optimization is represented in the central management system in the building with a novel system which is called here Building Energy Enhancement Learning (BEEL).
Journal ArticleDOI
Studying Dynamic Pricing in Electrical Power Markets with Distributed Generation: Agent-Based Modeling and Reinforcement-Learning Approach
TL;DR: In this paper , a complex system-of-systems (SoS) simulation for wholesale power markets and infrastructure is developed using agent-based modeling (ABM), Optimal Power Flow (OPF), and reinforcement learning (RL).
References
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Journal ArticleDOI
A critical survey of agent-based wholesale electricity market models
Anke Weidlich,Daniel Veit +1 more
TL;DR: Agent-Based Computational Economics (ACE) is a fairly young research paradigm that offers methods for realistic electricity market modeling as discussed by the authors, and a growing number of researchers have developed agent-based models for simulating electricity markets.
Journal ArticleDOI
Model-Based Comparisons of Pool and Bilateral Markets for Electricity
John Bower,Derek W. Bunn +1 more
TL;DR: In this paper, the authors present a computationally intensive simulation model of the wholesale electricity market in England and Wales to isolate and systematically test the potential impact of alternative trading arrangements on electricity prices.
Journal ArticleDOI
An Agent-Based Approach to Virtual Power Plants of Wind Power Generators and Electric Vehicles
Matteo Vasirani,Ramachandra Kota,Renato L. G. Cavalcante,Sascha Ossowski,Nicholas R. Jennings +4 more
TL;DR: This paper considers VPPs as coalitions of wind generators and electric vehicles, where wind generators seek to use electric vehicles (EVs) as a storage medium to overcome the vagaries of generation.
Journal ArticleDOI
Agent-Based Electricity Market Simulation With Demand Response From Commercial Buildings
Zhi Zhou,Fei Zhao,Jianhui Wang +2 more
TL;DR: The results indicate that there is a noticeable impact from commercial buildings with price-responsive demand on the electricity market, and this impact differs with different scales of DR participation under different levels of market competitions.
Journal ArticleDOI
Agent-based modelling and simulation of smart electricity grids and markets – A literature review
TL;DR: A detailed review of agent-based modelling and simulation techniques for analyzing smart grids from a systems perspective can be found in this article, where a general classification of applying agentbased modeling techniques to electricity systems is provided.