Multi-agent Simulation of Bilateral Contracting in Competitive Electricity Markets


Autoria(s): Lopes, Fernando; Algarvio, Hugo; Sousa, Jorge A. M.; Coelho, Helder; Pinto, Tiago; Santos, Gabriel; Vale, Zita; Praça, Isabel
Data(s)

04/05/2015

04/05/2015

01/09/2014

Resumo

Traditional vertically integrated power utilities around the world have evolved from monopoly structures to open markets that promote competition among suppliers and provide consumers with a choice of services. Market forces drive the price of electricity and reduce the net cost through increased competition. Electricity can be traded in both organized markets or using forward bilateral contracts. This article focuses on bilateral contracts and describes some important features of an agent-based system for bilateral trading in competitive markets. Special attention is devoted to the negotiation process, demand response in bilateral contracting, and risk management. The article also presents a case study on forward bilateral contracting: a retailer agent and a customer agent negotiate a 24h-rate tariff.

Identificador

http://hdl.handle.net/10400.22/5885

10.1109/DEXA.2014.40

Idioma(s)

eng

Publicador

IEEE

Relação

DEXA;2014

http://ieeexplore.ieee.org/xpl/articleDetails.jsp?tp=&arnumber=6974839&queryText%3DMulti-agent+Simulation+of+Bilateral+Contracting+in+Competitive+Electricity+Markets

Direitos

closedAccess

Palavras-Chave #Energy markets #multi-agent systems #Bilateral contracting #Demand Response #Risk management #Trading strategies
Tipo

conferenceObject