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Evaluation of Market Rules Using a Multi-Agent System Method

delete2010-02-01
delete78
PRE
AI
N
Nanpeng Yu *
C
Chen‐Ching Liu
P
Price, James
DOI:10.1109/TPWRS.2009.2030379delete
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摘要

摘要

En 中文
The California energy crisis in 2000-2001 showed what could happen to an electricity market if it did not go through a comprehensive and rigorous testing before its implementation. Due to the complexity of the market structure, strategic interaction between the participants, and the underlying physics, it is difficult to fully evaluate the implications of potential changes to market rules. This paper presents a flexible and integrative method to assess market designs through agent-based modeling. Realistic simulation scenarios are constructed for evaluation of the proposed PJM-like market power mitigation rules of the California electricity market. Simulation results show that in the absence of market power mitigation, generation company (GENCO) agents facilitated by Q-learning are able to exploit the market flaws and make significantly higher profits relative to the competitive benchmark. The incorporation of PJM-like local market power mitigation rules is shown to be effective in suppressing the exercise of market power.
Keyword:
Electricity market
market design
market power mitigation
multi-agent system
Q-learning
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期刊

IEEE Transactions on Power Systems 封面图
IEEE Transactions on Power Systems
IF:
7.2
论文数:
1.1W
被引数:
5.0W

机构

I
Iowa State University
学者数:
2.1W
论文数: 1.8W
被引数: 2.5W
U
university college dublin
学者数:
2.6W
论文数: 2.2W
被引数: 22
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