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Browsing Integração de Sistemas de Energia - ISE by Subject "Agent-based modeling"
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- Agent-based model of citizen energy communities used to negotiate bilateral contracts in electricity marketsPublication . Algarvio, HugoABSTRACT: The worldwide targets for carbon-neutral societies increased the penetration of distributed generation and storage. Smart cities now play a key role in achieving these targets by considering the alliances of their demand and supply assets as local citizen energy communities. These communities need to have enough weight to trade electricity in wholesale markets. Trading of electricity can be done in spot markets or by bilateral contracts involving customers and suppliers. This paper is devoted to bilateral contracting, which is modeled as a negotiation process involving an iterative exchange of offers and counter-offers. This article focuses on local citizen energy communities. Specifically, it presents team and single-agent negotiation models, where each member has its sets of strategies and tactics and also its decision model. Community agents are equipped with intra-team strategies and decision protocols. To evaluate the benefits of CECs, models of both coalition formation and management have been adapted. This paper also describes a case study on forward bilateral contracts, involving a retailer agent and three different types of citizen energy communities. The results demonstrate the benefits of CECs during the negotiation of private bilateral contracts of electricity. Furthermore, they also demonstrate that in the case of using a representative strategy, the selection of the mediator may be critical for achieving a good deal.
- Agent-based retail competition and portfolio optimization in liberalized electricity markets: A study involving real-world consumersPublication . Algarvio, Hugo; Lopes, FernandoABSTRACT: The liberalization of energy markets brought full competition to the electric power industry. In the wholesale sector, producers and retailers submit bids to day-ahead markets, where prices are uncertain, or alternatively, they sign bilateral contracts to hedge against pool price volatility. In the retail sector, retailers compete to sign bilateral contracts with end-use customers. Typically, such contracts are subject to a high-risk premium—that is, retailers request a high premium to consumers to cover their potential risk of trading energy in wholesale markets. Accordingly, consumers pay a price for energy typically higher than the wholesale market price. This article addresses the optimization of the portfolios of retailers, which are composed of end-use customers. To this end, it makes use of a risk-return optimization model based on the Markowitz theory. The article presents a simulation-based study conducted with the help of the MATREM system, involving 6 retailer agents, with different risk preferences, and 312 real-world consumers. The retailers select a pricing strategy and compute a tariff to offer to target consumers, optimize their portfolio of consumers using data from the Iberian market, sign bilateral contracts with consumers, and compute their target return during contract duration. The results support the conclusion that retail markets are more favourable to risk-seeking retailers, since substantial variations in return lead to small variations in risk. However, for a given target return, risk-averse retailers consider lower risk portfolios, meaning that they may obtain higher returns in both favourable and unfavourable situations.
- Changing the day-ahead gate closure to wind power integration: a simulation-based studyPublication . Algarvio, Hugo; Couto, António; Lopes, Fernando; Estanqueiro, AnaABSTRACT: Currently, in most European electricity markets, power bids are based on forecasts performed 12 to 36 hours ahead. Actual wind power forecast systems still lead to large errors, which may strongly impact electricity market outcomes. Accordingly, this article analyzes the impact of the wind power forecast uncertainty and the change of the day-ahead market gate closure on both the market-clearing prices and the outcomes of the balancing market. To this end, it presents a simulation-based study conducted with the help of an agent-based tool, called MATREM. The results support the following conclusion: a change in the gate closure to a time closer to real-time operation is beneficial to market participants and the energy system generally.
- Characterization of new flexible players: Deliverable D3.2Publication . Chrysanthopoulos, Nikolaos; Papadaskalopoulos, Dimitrios; Strbac, Goran; Schimeczek, Christoph; Kochems, Johannes; Vries, Laurens de; Sanchez, Ingrid; Algarvio, Hugo; Couto, António; Pinto, Tiago; Hernandez-Serna, Ricardo; Johanndeiter, Silke; Estanqueiro, AnaABSTRACT: The subject matter of this report is the analysis of the electricity markets’ actors’ scene, through the identification of actor classes and the characterisation of actors from a behavioural and an operational perspective. The technoeconomic characterization of market participants aims to support the upcoming model enhancements by aligning the agent-based model improvements with the modern market design challenges and the contemporary characteristics of players. This work has been conducted in the context of task T3.2, which focuses on the factorization of the distinctive operational and behavioural characteristics of players in market structures. Traditional parties have been considered together with new and emerging roles, while special focus has been given on new actors related to flexible technologies and demand-side response. Among the main objectives have been the characterization of individual behaviours, objectives and requirements of different electricity market players, considering both the traditional entities and the new distributed ones, and the detailed representation of the new actors.
- Electricity markets with increasing levels of renewable generation: structure, operation, agent-based simulation and emerging designsPublication . Lopes, Fernando; Coelho, HelderABSTRACT: This book describes the common ground between electricity markets (EMs) and software agents (or artificial intelligence generally). It presents an up-to-date introduction to EMs and intelligent agents, and offers a comprehensive description of the research advances and key achievements related to existing and emerging market designs to reliably and efficiently manage the potential challenges of variable generation (VG). Most EMs are unique in their complex relationships between economics and the physics of energy, but were created without the notion that large penetrations of variable generation (VG) would be part of the supply mix. An advanced multi-agent approach simulates the behavior of power markets over time, particularly markets with large-scale penetrations of renewable resources. It is intended as a reference book for researchers, academics and industry practitioners, but given the scope of the chapters and the highly accessible style, the book also provides a coherent foundation for several different graduate courses.
- Management of local citizen energy communities and bilateral contracting in multi-agent electricity marketsPublication . Algarvio, HugoABSTRACT: Over the last few decades, the electricity sector has experienced several changes, resulting in different electricity markets (EMs) models and paradigms. In particular, liberalization has led to the establishment of a wholesale market for electricity generation and a retail market for electricity retailing. In competitive EMs, customers can do the following: freely choose their electricity suppliers; invest in variable renewable energy such as solar photovoltaic; become prosumers; or form local alliances such as Citizen Energy Communities (CECs). Trading of electricity can be done in spot and derivatives markets, or by bilateral contracts. This article focuses on CECs. Specifically, it presents how agent-based local consumers can form alliances as CECs, manage their resources, and trade on EMs. It also presents a review of how agent-based systems can model and support the formation and interaction of alliances in the electricity sector. The CEC can trade electricity directly with sellers through private bilateral agreements. During the negotiation of private bilateral contracts, the CEC receives the prices and volumes of their members and according to its negotiation strategy, tries to satisfy the electricity demands of all members and reduce their costs for electricity.
- New actor types in electricity market simulation models: Deliverable D4.4Publication . Machado, Ana Rita; Couto, António; Schimeczek, Christoph; Qiu, Dawei; José, Débora Regina S.; Papadaskalopoulos, Dimitrios; Strbac, Goran; Algarvio, Hugo; Sanchez, Ingrid; Kochems, Johannes; Nienhaus, Kristina; Vries, Laurens de; Chrysanthopoulos, Nikolaos; Pinto, Tiago; Estanqueiro, Ana; Cvetkovic, MilosABSTRACT: The modelling of agents in the simulation models and tools is of primary importance if the quality and the validity of the simulation outcomes are at stake. This is the first version of the report that deals with the representation of electricity market actors’ in the agent based models (ABMs) used in TradeRES project. With the AMIRIS, the EMLab-Generation (EMLab), the MASCEM and the RESTrade models being in the centre of the analysis, the subject matter of this report has been the identification of the actors’ characteristics that are already covered by the initial (with respect to the project) version of the models and the presentation of the foreseen modelling enhancements. For serving these goals, agent attributes and representation methods, as found in the literature of agent-driven models, are considered initially. The detailed review of such aspects offers the necessary background and supports the formation of a context that facilitates the mapping of actors’ characteristics to agent modelling approaches. Emphasis is given in several approaches and technics found in the literature for the development of a broader environment, on which part of the later analysis is deployed. Although the ABMs that are used in the project constitute an important part of the literature, they have not been included in the review since they are the subject of another section.
- New forecast tools to enhance the value of VRE on the electricity market: Deliverable D4.9Publication . Couto, António; Schimeczek, Christoph; Algarvio, Hugo; Preto, Isabel; Kochems, Johannes; Santos, Tiago; Nienhaus, Kristina; Estanqueiro, AnaABSTRACT: The present deliverable was developed as part of the research activities of the TradeRES project Task 4.4 - Enhancing the value of VRE on the electricity markets with advanced forecasting and ramping tools. This report presents the first version of deliverable 4.9, which consists on the description and implementation of the forecasting techniques aiming to identify and explore the time synergies of meteorological effects and electricity market designs in order to maximize the value of variable renewable energy systems and minimize market imbalances. An overview of key aspects that characterize a power forecast system is presented in this deliverable through a literature review. This overview addresses the: i) forecast time horizon; ii) type of approach (physical, statistical or hybrid); iii) data pre-processing procedures; iv) type of forecast output; and v) the most common metrics used to evaluate the performance of the forecast systems.
- New forecast tools to enhance the value of VRE on the electricity markets : 2nd EditionPublication . Estanqueiro, Ana; Couto, António; Schimeczek, Christoph; Lopes, Duarte; Algarvio, Hugo; Preto, Isabel; Kochems, Johannes; Santos, Tiago; Faria, Ricardo; Sperber, EvelynABSTRACT: The present deliverable was developed as part of the research activities of the TradeRES project Task 4.4 - Enhancing the value of VRE on the electricity markets with advanced forecasting and ramping tools edition 2. This report presents the second edition of deliverable 4.9, which consists of the description and implementation of the forecasting models aiming to identify and explore the time synergies of meteorological effects and electricity market designs explored in the project to maximize the value of variable renewable energy systems and minimize market imbalances. An overview of key aspects that characterize a power forecast system is presented in this deliverable through a literature review. This overview addresses the: i) forecast time horizon; ii) type of approach (physical, statistical or hybrid); iii) data pre-processing procedures; iv) type of forecast output; and v) the most common metrics used to evaluate the performance of the forecast systems. While in the TradeRES project work package 3 the conception of new market designs and products are presented from a theoretical point of view, in this deliverable, the power forecast tools capable to address the new designs and products are presented and discussed. Complementarily to the first edition of this deliverable, the link between dayahead market time frames and the performance of the different power forecast approaches is analysed. This second edition of D4.9 also focuses on the short-term forecasts (below six hours) for new market designs. As a first step, a non-disruptive change in the day-ahead market is proposed by simply postponing the gate closure hour according to the meteorological data availability from the global numerical weather prediction (NWP) models while the 24 hours forecast periods are still used. In the second step, various short-term forecast approaches designed for time horizons below six hours are developed and implemented. These approaches are specifically tailored to attend the requirements of new electricity market designs currently under development in TradeRES. Another aspect regarding the meteorological time synergy and electricity markets analysed in this deliverable is the identification of extreme events. A wind power ramping forecast approach implemented in the TradeRES forecast tools is described. This approach is designed to complement the existing deterministic power forecasts and it can be used to increase the transmission system operators’ awareness level and helping them to better scale the level of reserve required. Market players can also take advantage of this information to strategically define the bids in the different market environments. Using different wind and solar power parks in Portugal, as well as the national aggregated Portuguese and German wind and solar generation, results regarding the potential certainty gain effect from changing the day-ahead market gate closure are presented and analysed in this deliverable. Results showed that the use of the TradeRES forecast methodology guaranteed better performance compared to an operational forecast from a forecast provider. Additionally, the results emphasized the benefits of including non-traditional variables such as air pressure and temperature at different heights, atmospheric boundary layer, and geopotential height for various pressure levels. The simulations also highlighted that incorporating both NWP features based on historical power series led to improvement when compared with models based solely on power series or NWP. Therefore, it is recommended that power forecast systems can have access to recent observed values to improve their accuracy. Despite the improvements achieved in the forecasts for the day-ahead market, high power forecast errors are still observed (a normalised root mean square error of nearly 30% for wind and solar in Portugal and nearly 20% for Spain). Market designs with shorter forecast time horizons can significantly reduce power forecast errors. Results also emphasize the importance of evaluating the most suitable forecast approach based on the forecast time horizon. To assess the value of renewable energy forecasting for the German day-ahead market, the Agent-based Market model for the Investigation of Renewable and Integrated energy Systems (AMIRIS) was enhanced to account for power forecast errors. For this purpose, a feature was developed that allows for the adjustment of forecasts for the feed-in of renewable energies using a Gaussian distributed error term. Furthermore, this deliverable presents a realistic forecast time series that was implemented in AMIRIS. The case study of the German day-ahead market in 2019 demonstrated that realistic power forecasts can reduce the profits of onshore wind turbine operators by approximately 8% compared to perfect foresight of wind infeed. Assuming Gauss-distributed errors, the losses are smaller (~ 5 % less profit compared to the perfect forecast). The power forecast tools developed in this task will be publicly shared and disseminated in the channels of the project. With this step, users can use the tools for obtaining power forecasts in future studies or use the approaches developed in TradeRES as a benchmark.
- New market designs in electricity market simulation models: Deliverable D4.5Publication . Couto, António; Papadaskalopoulos, Dimitrios; Strbac, Goran; Algarvio, Hugo; Sanchez, Ingrid; Kochems, Johannes; Nienhaus, Kristina; Vries, Laurens de; Cvetkovic, Milos; Chrysanthopoulos, Nikolaos; Johanndeiter, Silke; Schimeczek, Christoph; Estanqueiro, Ana; Lopes, FernandoABSTRACT: To integrate a high share of renewables in a future system, several modifications to the electricity market rules may need to be implemented. The most relevant market design concepts were identified from the literature and reported in work package 3. There are several uncertainties, for instance with respect to the questions of whether a future electricity market will provide enough incentives for investment in variable renewable energy sources (vRES) – mainly solar and wind energy – and in flexibility options, especially for long periods with insufficient vRES generation. In this deliverable, the modelling requirements to analyse the new market rules are determined. The modelling efforts will reflect the main policy choices and are based on the strengths of the modelling capabilities from the consortium. The model enhancements to represent the temporal, spatial and sectoral flexibility will be approached in deliverables 4.1 to 4.3. For this reason, these topics will be described only briefly in this deliverable.