Agent Strategies in Multi-Period Negotiations for Electricity Markets

I. Praça, C. Ramos, Z.A. Vale, and M. Cordeiro (Portugal)

Keywords

MultiAgent Simulation, Competitive Electricity Markets, Decision Support

Abstract

Experiences around the world tend to show that a better understanding of the impact of deregulation – and the deregulation rules that come along – is a key point in electricity markets design. Therefore, there is a prevailing need for tools to help understand, predict and even design electricity markets. The goal of this paper is to give an overview of our work on applying Multi-Agent Simulation to deregulated electricity markets. The Multi-Agent Simulation prototype we have developed simulates the behaviour of the model defined by the user, and is intended as an efficient Decision Support tool to the different entities in electricity markets. The agents use simple internal decision rules that allow them to “discover” and “learn” strategic solutions that satisfy their market objectives. In this paper we will describe the characteristics and functionalities of the prototype, giving a special highlight to the strategic behaviour of agents. Some simulation runs are presented and some conclusions about the strengths and weaknesses of agent strategies are drawn.

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