Strategic bidding methodology for electricity markets using adaptive learning

The very particular characteristics of electricity markets, require deep studies of the interactions between the involved players. MASCEM is a market simulator developed to allow studying electricity market negotiations. This paper presents a new proposal for the definition of MASCEM players’ strate...

ver descrição completa

Detalhes bibliográficos
Autor principal: Pinto, Tiago (author)
Outros Autores: Vale, Zita (author), Rodrigues, Fátima (author), Morais, H. (author), Praça, Isabel (author)
Formato: bookPart
Idioma:eng
Publicado em: 2013
Assuntos:
Texto completo:http://hdl.handle.net/10400.22/1530
País:Portugal
Oai:oai:recipp.ipp.pt:10400.22/1530
Descrição
Resumo:The very particular characteristics of electricity markets, require deep studies of the interactions between the involved players. MASCEM is a market simulator developed to allow studying electricity market negotiations. This paper presents a new proposal for the definition of MASCEM players’ strategies to negotiate in the market. The proposed methodology is implemented as a multiagent system, using reinforcement learning algorithms to provide players with the capabilities to perceive the changes in the environment, while adapting their bids formulation according to their needs, using a set of different techniques that are at their disposal. This paper also presents a methodology to define players’ models based on the historic of their past actions, interpreting how their choices are affected by past experience, and competition.