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Management of local Citizen Energy Communities and Bilateral Contracting in Multi-Agent Electricity Markets

Hugo Algarvio
2021 Smart Cities  
In particular, liberalization has led to the establishment of a wholesale market for electricity generation and a retail market for electricity retailing.  ...  Trading of electricity can be done in spot and derivatives markets, or by bilateral contracts. This article focuses on CECs.  ...  There are several simulators using agent technology for simulating actual and future market designs, such as AMES (Agent-based Modelling of Electricity Systems) [26] , EMCAS (Electricity Market Complex  ... 
doi:10.3390/smartcities4040076 fatcat:3vnighynfnhgvjfioujcb2isqu

Bidding in local electricity markets with cascading wholesale market integration

Fernando Lezama, Joao Soares, Ricardo Faia, Zita Vale, Olli Kilkki, Sirpa Repo, Jan Segerstam
2021 International Journal of Electrical Power & Energy Systems  
A B S T R A C T Local electricity markets are a promising idea to foster the efficiency and use of renewable energy at the distribution level.  ...  Due to possible low liquidity in the local market, the mechanism assumes that end-users fulfill their energy demands through bilateral contracts with an aggregator/retailer with access to the wholesale  ...  In this scenario, local electricity markets (LEM) will provide a new framework for players to trade energy (most often of renewable type) and thus, contribute to lower carbon emissions.  ... 
doi:10.1016/j.ijepes.2021.107045 fatcat:guqqwq6zgnfpvkgwxw5xrbm2ye

Agent-based Simulation of Electricity Markets -A Literature Review-

Frank Sensuß, Massimo Genoese, Mario Ragwitz, Dominik Möst
2007 Energy Studies Review  
A promising approach for the scientific analysis of these developments is the field of agent-based simulation.  ...  Liberalisation, climate policy and promotion of renewable energy are challenges to players of the electricity sector in many countries.  ...  Electricity can be bought via bilateral trade and in a pool market.  ... 
doi:10.15173/esr.v15i2.507 fatcat:6obuv6hblbebhfbf7wpqlhxz2e

A web services based artificial market

Karla Atkins, Chris Barrett, Achla Marathe
2009 Proceedings of the 2009 Winter Simulation Conference (WSC)  
The system provides users the unique ability to experiment with a variety of markets such as market for communication spectrum, Internet bandwidth, electricity, as well as traditional commodities like  ...  We describe a web services based computational tool for studying large commodity markets.  ...  Her research interests include modeling and simulation of socio-economic systems, computational economics and restructured electricity markets. Her email address is <amarathe@vbi.vt.edu>.  ... 
doi:10.1109/wsc.2009.5429221 dblp:conf/wsc/AtkinsBM09 fatcat:sinbkxqldne4nekfh267ancuva

Variable Renewable Energy and Market Design: New Products and a Real-World Study

Hugo Algarvio, Fernando Lopes, António Couto, Ana Estanqueiro, João Santana
2019 Energies  
It also presents a study conducted with the help of an agent-based tool, called MATREM. The results indicate a significant decrease in the imbalances and the associated costs.  ...  Both appropriate market products and new elements of market design may largely facilitate the large-scale integration of VRE in EMs.  ...  Main Features of the MATREM System MATREM (for Multi-Agent TRading in Electricity Markets) is an agent-based tool for simulating the behavior of competitive energy markets.  ... 
doi:10.3390/en12234576 fatcat:dl4nnmfdg5d3do6fzboqpb56pe

Agent-based modelling as a tool for testing electric power market designs

Marijn Maenhoudt, Geert Deconinck
2010 2010 7th International Conference on the European Energy Market  
Especially in the field of wholesale electric power markets, agent-based models gleam as a promising market design deliberation tool anterior to the actual real world market implementation.  ...  An introduction to the latest electricity market models is given to illustrate how national and international policy makers embrace agent-based simulations as a framework to base their decisions upon.  ...  Furthermore three important agent-based simulation frameworks -EMCAS, AMES and OPTIMATE -that attempt to model the strategic trade of electricity power are discussed.  ... 
doi:10.1109/eem.2010.5558780 fatcat:nkap3qanhjeg3kktokzjvjxxqq

Adjacent Markets Influence Over Electricity Trading—Iberian Benchmark Study

Hugo Morais, Tiago Pinto, Zita Vale
2020 Energies  
The paper also shows how the simulation of electricity and adjacent markets can be performed, using an electricity market simulator, and demonstrates, based on market simulations using real data from the  ...  Besides the selling of electricity and related services (ancillary services) in energy markets, players can participate and negotiate in other markets, such as the carbon/CO2 market, the guarantees of  ...  Conflicts of Interest: The authors declare no conflict of interest  ... 
doi:10.3390/en13112808 fatcat:swawsu2g6zd4pgkpkdpfn6c5ya

A Review of Liberalization and Modeling of Electricity Markets

Hannes Weigt
2009 Social Science Research Network  
The focus of this review lies on aspects of competitiveness and regulation in generation and transmission markets and market design, whereas distribution and retail are not pursued in detail.  ...  This paper provides a review on the restructuring of electricity markets around the word including the UK, Norway, Continental Europe, and the US.  ...  The majority of electricity-related papers are focused on the market design analysis. Weidlich and Veit (2008) provide a review and critical assessment of agent-based electricity market models.  ... 
doi:10.2139/ssrn.1483228 fatcat:6dkulrsh45holpkxqwirmwzkyy

Incentives and coordination in vertically related energy markets

Augusto Rupérez Micola, Albert Banal-Estañol, Derek W. Bunn
2008 Journal of Economic Behavior and Organization  
This paper introduces an agent-based simulation model of natural gas and electricity markets.  ...  The agent-based simulations show that coordination overcomes the potential disadvantages of broad collaborative incentives due to the large interdependences between energy markets.  ...  The simulations suggest a new mechanism to solve the puzzle of how vertical market power appears in some energy markets where it should not.  ... 
doi:10.1016/j.jebo.2006.12.007 fatcat:kkt5uuveeramveugycqpy36hb4

Peer-to-peer and community-based markets: A comprehensive review [article]

Tiago Sousa, Tiago Soares, Pierre Pinson, Fabio Moret, Thomas Baroche, Etienne Sorin
2018 arXiv   pre-print
Recently, a novel proposal for the design and operation of electricity markets has emerged: these so-called peer-to-peer (P2P) electricity markets conceptually allow the prosumers to directly share their  ...  This paper contributes with an overview of these new P2P markets that starts with the motivation, challenges, market designs moving to the potential future developments in this field, providing recommendations  ...  The post-doctoral grant of Tiago Soares was financed by the ERDF -European Regional Development Fund through the Operational Programme for Competitiveness and Internationalisation -COMPETE 2020 Programme  ... 
arXiv:1810.09859v2 fatcat:gkgcjaagwnd3xh5g4p7l7clr6u

Chapter 27 Market Design Using Agent-Based Models [chapter]

Robert Marks
2006 Handbook of Computational Economics  
This chapter explores the state of the emerging practice of designing markets by the use of agent-based modeling, with special reference to electricity markets and computerized (on-line) markets, perhaps  ...  The chapter highlights ten papers that exemplify recent progress in agent-based evolutionary analysis and design of markets in silico, using electricity markets and on-line double auctions as illustrations  ...  The authors used agent-based simulation in a coordination game to analyze the possibility of market power (structural or strategic, as 7 Acknowledgments  ... 
doi:10.1016/s1574-0021(05)02027-7 fatcat:lq62vglu7jg5dbbej4l2miavxe

Hydrothermal market simulator using game theory: assessment of market power

J. Villar, H. Rudnick
2003 IEEE Transactions on Power Systems  
Abstract--The aim of this work is to build a model able to simulate a hydrothermal electric power market based on simple bids to a Power Exchange.  ...  Initially, a thermoelectric market is simulated through a static model based on Cournot concepts.  ...  FORMULATION OF THE MODEL The methodology used to develop an electric market operation simulator is based on the Cournot model.  ... 
doi:10.1109/tpwrs.2002.807061 fatcat:rxmyv5fsevgy5fj3nhaphg7byy

Hydrothermal Market Simulator Using Game Theory: Assessment of Market Power

J. Villar, H. Rudnick
2002 IEEE Power Engineering Review  
Abstract--The aim of this work is to build a model able to simulate a hydrothermal electric power market based on simple bids to a Power Exchange.  ...  Initially, a thermoelectric market is simulated through a static model based on Cournot concepts.  ...  FORMULATION OF THE MODEL The methodology used to develop an electric market operation simulator is based on the Cournot model.  ... 
doi:10.1109/mper.2002.4311825 fatcat:mdre3q4xyjcpjcxgnf6ej5v334

A Trading Simulator Model for the Wholesale Electricity Market

Simona-Vasilica Oprea, Adela Bara, Dan Preotscu, Ramona Ana Bologa, Lucian Coroianu
2020 IEEE Access  
Agents can be manufacturers, network service providers, retailers and the national electricity market management authority. The models used are bidding and bilateral contracts.  ...  NEMSIM [17] was the first large-scale agent-based simulation model to represent the Australia's electricity market.  ... 
doi:10.1109/access.2020.3029291 fatcat:buorq57m4nfw7jal3g3z7rxani

The Next-Generation U.S. Retail Electricity Market with Customers and Prosumers—A Bibliographical Survey

Tao Chen, Qais Alsafasfeh, Hajir Pourbabak, Wencong Su
2017 Energies  
The collected literature has been divided into different sections to discuss different aspects of the next-generation retail electricity market under the deregulated power industry.  ...  Due to the rapidly-changing technologies in the power industry, many new references addressing the frameworks and business models of the next-generation retail electricity market are entering the research  ...  Conflicts of Interest: The authors declare no conflict of interest.  ... 
doi:10.3390/en11010008 fatcat:bz5fc4pqmfditjuakalxbwkjve
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