ISE - Comunicações em actas de encontros científicos internacionais
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Browsing ISE - Comunicações em actas de encontros científicos internacionais by Subject "Bilateral contracting"
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- Agent-based simulation of retail electricity markets: Bilateral contracting with demand responsePublication . Lopes, Fernando; Algarvio, Hugo; Ilco, Cristina; Sousa, JorgeThe novelty of the evolving electric power industry implies that researchers lack insight into numerous open problems. There is a growing need for advanced modeling approaches that simulate the behavior of electricity markets over time. Accordingly, this article looks at using software agents to help manage the complexity of electricity markets, particularly retail markets, towards ensuring long-term capacity sustainability. The article focuses on bilateral trading and describes some important features of an agent-based system for bilateral contracting with demand response. Special attention is devoted to two strategies for promoting demand response: a “volume management” strategy, for Buyer agents, and a “price management” strategy, for Seller agents.
- Agent-based simulation of retail electricity markets: Bilateral trading playersPublication . Lopes, Fernando; Algarvio, Hugo; Coelho, HelderThe electricity industry throughout the world, which has long been dominated by vertically integrated utilities, has experienced major changes. Deregulation, unbundling, wholesale and retail wheeling, and real-time pricing were abstract concepts a few years ago. Today market forces drive the price of electricity and reduce the net cost through increased competition. As power markets continue to evolve, there is a growing need for advanced modeling approaches. Accordingly, this article looks at using software agents to help manage the complexity of electricity markets, particularly retail markets. The article focuses on bilateral trading and describes some important features of an agent-based system for bilateral contracting. Special attention is devoted to the characteristics and negotiation behaviour of Buyer and Seller agents.
- Coalitions of end-use customers in retail electricity markets: a real-world case study involving five schools for childrenPublication . Algarvio, Hugo; Lopes, Fernando; Santana, JoãoABSTRACT: The key mechanisms for purchasing and selling electrical energy include electricity pools and bilateral contracts. This article is devoted to bilateral contracting, which is modeled as a negotiation process involving an iterative exchange of offers and counter-offers. It focuses on coalitions of end-use consumers and describes a case study involving five schools for children located in England. The schools decide to ally into a coalition to strengthen their bargaining positions and, hopefully, to obtain better tariffs. To this end, they rely on a coordinator agent, who is defined from the group of five schools, by selecting either the “most powerful” school or the “best negotiator” school. The coordinator takes decisions according to either a “majority” rule, a “consensus” rule, or an “unanimity” rule. The simulations are performed with an agent-based system, called MATREM (for Multi-agent TRading in Electricity Markets). Although preliminary, the results suggest that coalition formation and management is beneficial to end-use customers, since the price agreed in the new forward contracts is more favorable to these agents, particularly when the coordinator is the “best negotiator” agent and considers the “unanimity” decision rule.