Loading...
2 results
Search Results
Now showing 1 - 2 of 2
- Multi-agent Simulation of Bilateral Contracting in Competitive Electricity MarketsPublication . Lopes, Fernando; Algarvio, Hugo; Sousa, Jorge A. M.; Helder Coelho; Pinto, Tiago; Santos, Gabriel; A. Vale, Zita; Praça, IsabelTraditional 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. © 2014 IEEE.
- Bilateral contracting in multi-agent energy markets with demand responsePublication . Lopes, Fernando; Algarvio, Hugo; Sousa, Jorge A. M.In competitive energy markets (EMs), customers can freely choose their energy suppliers. The electricity trade can be done in organized markets or using forward bilateral contracts. Currently, there are several simulation tools based on multi-agent techniques that allow modeling, partially or globally, competitive EMs. The existing tools allow simulating negotiation prices and volumes through bilateral contracts, transactions in pool markets, etc. However, these tools have some limitations, mainly due to the complexity of the electric system. In this context, this article focuses on bilateral trading and presents the key features of software agents able to negotiate forward bilateral contracts. Special attention is devoted to demand response in bilateral contracting, notably utility functions and trading strategies for promoting demand response. The article also presents a case study on forward bilateral contracting with demand response: a retailer agent and an industrial customer agent negotiate a 24h-rate tariff.