Support Vector Machines for decision support in electricity markets' strategic bidding

Energy systems worldwide are complex and challenging environments. Multi-agent based simulation platforms are increasing at a high rate, as they show to be a good option to study many issues related to these systems, as well as the involved players at act in this domain. In this scope the authors�...

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Detalhes bibliográficos
Autor principal: Pinto, Tiago (author)
Outros Autores: Sousa, Tiago M. (author), Praça, Isabel (author), Vale, Zita (author), Morais, Hugo (author)
Formato: article
Idioma:eng
Publicado em: 2015
Assuntos:
Texto completo:http://hdl.handle.net/10400.22/9384
País:Portugal
Oai:oai:recipp.ipp.pt:10400.22/9384
Descrição
Resumo:Energy systems worldwide are complex and challenging environments. Multi-agent based simulation platforms are increasing at a high rate, as they show to be a good option to study many issues related to these systems, as well as the involved players at act in this domain. In this scope the authors' research group has developed a multi-agent system: Multi-Agent System for Competitive Electricity Markets (MASCEM), which simulates the electricity markets environment. MASCEM is integrated with Adaptive Learning Strategic Bidding System (ALBidS) that works as a decision support system for market players. The ALBidS system allows MASCEM market negotiating players to take the best possible advantages from the market context. This paper presents the application of a Support Vector Machines (SVM) based approach to provide decision support to electricity market players. This strategy is tested and validated by being included in ALBidS and then compared with the application of an Artificial Neural Network (ANN), originating promising results: an effective electricity market price forecast in a fast execution time. The proposed approach is tested and validated using real electricity markets data from MIBEL –Iberian market operator.