Browsing by Author "Vale, Zita"
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- Decision support for energy contracts negotiation with game theory and adaptive learningPublication . Pinto, Tiago; Vale, Zita; Praça, Isabel; Pires, E. J. Solteiro; Lopes, FernandoThis paper presents a decision support methodology for electricity market players’bilateral contract negotiations. The proposed model is based on the application of game theory, using artificial intelligence to enhance decision support method’s adaptive features. This model is integrated in AiD-EM (Adaptive Decision Support for Electricity Markets Negotiations), a multi-agent system that provides electricity market players with strategic behavior capabilities to improve their outcomes from energy contracts’ negotiations. Although a diversity of tools that enable the study and simulation of electricity markets has emerged during the past few years, these are mostly directed to the analysis of market models and power systems’ technical constraints, making them suitable tools to support decisions of market operators and regulators. However, the equally important support of market negotiating players’ decisions is being highly neglected. The proposed model contributes to overcome the existing gap concerning effective and realistic decision support for electricity market negotiating entities. The proposed method is validated by realistic electricity market simulations using real data from the Iberian market operator—MIBEL. Results show that the proposed adaptive decision support features enable electricity market players to improve their outcomes from bilateral contracts’ negotiations.
- Performance assessment of current and new market designs and trading mechanisms for national and regional markets : Deliverable D5.3Publication . Estanqueiro, Ana; Couto, António; Sperber, Evelyn; Santos, Gabriel; Strbac, Goran; Algarvio, Hugo; Jimenez, Ingrid Sanchez; Kochems, Johannes; Sijm, Jos; Nienhaus, Kristina; Vries, Laurens de; Wang, Ni; Chrysanthopoulos, Nikolaos; Gregorio, Noelia Martin; Carvalho, Rui; Faia, Ricardo; Vale, Zita
- Reduction of the Market Splitting Occurrences: A Dynamic Line Rating Approach for the 2030 Iberian Day-ahead Market ScenariosPublication . Algarvio, Hugo; Couto, António; Estanqueiro, Ana; Carvalho, Rui; Santos, Gabriel; Faia, Ricardo; Faria, Pedro; Vale, ZitaABSTRACT: Typically, Transmission System Operators apply power flow models with Seasonal Line Rating prescriptions to compute the ampacity of power lines, in a process that enables to obtain the cross-border capacity for trading between different countries or market zones. These seasonal-dependent models rely on fixed conservative meteorological conditions throughout the year, underestimating the real-time transmission capacity of overhead lines. This can contribute to market splitting occurrences, i.e., a situation where the cleared power flow between different market zones of the coupled market is superior to the cross-border capacity, separating markets, which brings economic losses to market participants. Dynamic Line Rating analysis allows computing the overhead lines’ capacity considering the weather conditions that influence the power line's thermal dynamics. This work presents a study that applies the CIGRÉ 601 model in cross-border power lines between Portugal and Spain to quantify the reduction in market splitting occurrences in the day-ahead Iberian market considering based on the installed capacities from the 2030 national energy and climate plans. Comparing with the seasonal approach, dynamic line rating enabled to reduce the number of market splitting occurrences from 1512 to 514, reducing the electricity costs by more than 1% and the price difference from 19 to 12 €/MWh.