Strategic bidding of ancillary services for a hydro power producer

Author

Abgottspon, Hubert ; Andersson, Goran

Author_Institution

Power Syst. Lab., ETH Zurich, Zurich, Switzerland

fYear

2013

fDate

27-31 May 2013

Firstpage

1

Lastpage

7

Abstract

This paper presents an agent-based simulator for examination of a secondary control market dominated by hydro power producer as decision support for one of the market participants. Proposed is a Q-learning algorithm for determining possible strategic behavior. Adaptive learning is made possible by application of certain characteristics to agents quantity-price pairs bids. Considered are for each agent its portfolio of different hydro power plants with their water values estimated by a stochastic dynamic programming scheme. The simulator is applied to the Swiss system where strategic behavior will be shown. Additionally it is analyzed how single agents could make use of strategic behavior in case of special occurrences in the market.

Keywords

dynamic programming; hydroelectric power stations; multi-agent systems; power engineering computing; power markets; stochastic programming; strategic planning; Q-learning algorithm; Swiss system; adaptive learning; agent-based simulator; ancillary services; deregulated electricity market environment; hydro power plants; hydro power producer; market participants; secondary control market; stochastic dynamic programming; strategic behavior; strategic bidding; water values; Dynamic programming; Estimation; Games; Optimization; Portfolios; Production; Stochastic processes; Ancillary services market; hydro power; multiagent systems; price-maker; self-scheduling; stochastic dynamic programming;

fLanguage

English

Publisher

ieee

Conference_Titel

European Energy Market (EEM), 2013 10th International Conference on the

Conference_Location

Stockholm

Type

conf

DOI

10.1109/EEM.2013.6607360

Filename

6607360