| Name: | Description: | Size: | Format: | |
|---|---|---|---|---|
| 283.79 KB | Adobe PDF |
Advisor(s)
Abstract(s)
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.
Description
Keywords
Energy markets multi-agent systems bilateral contracting demand response trading strategies simulation
Citation
LOPES, Fernando; ALGARVIO, Hugo; SOUSA, Jorge - Bilateral contracting in multi-agent energy markets with demand response. Springer International Publishing. ISBN 978-3-319-07766-6. Vol. 430, pp. 285-296.
Publisher
Springer International