Modeling Electricity Wholesale Markets With Model Predictive and Profit Maximizing Agents

被引:19
|
作者
Wehinger, Lukas A. [1 ]
Hug-Glanzmann, Gabriela [2 ]
Galus, Matthias D. [1 ]
Andersson, Goeran [1 ]
机构
[1] Swiss Fed Inst Technol, Power Syst Lab, Zurich, Switzerland
[2] Carnegie Mellon Univ, Dept Elect & Comp Engn, Pittsburgh, PA 15213 USA
关键词
Agent-based modeling; electricity markets; European electricity market; German electricity market; hourly price forward curve; implicit cross-border allocation; multi-agent model; model predictive control; SERIES; PRICE;
D O I
10.1109/TPWRS.2012.2213277
中图分类号
TM [电工技术]; TN [电子技术、通信技术];
学科分类号
0808 ; 0809 ;
摘要
In this paper, a new agent-based electricity market model is presented in which participants correspond to generation plants as well as storage power plants. In contrast to agent-based models where agents use learning heuristics and trial-and-error approaches to maximize their profits, the proposed model predictive bidding uses multi-step optimization to find bidding curves which maximize the expected discounted profit over a time horizon in the future. The profit is calculated based on an hourly price forward curve (HPFC), whereby the HPFC is constructed taking several factors into account. In addition, a price adjuster is used in these calculations which allows the participant to take into account his market power. The resulting optimization problem for each agent is solved using dynamic programming. A case study is carried out in which the proposed agent-based market model is applied to the four countries Switzerland, Germany, Italy, and France to study the effects of constrained cross-border capacities. The simulations show that the transmission system operators as well as the power generating units have no incentive to build additional cross-border capacity, since it lowers their profits.
引用
收藏
页码:868 / 876
页数:9
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