Framework design of a general-purpose power market simulator based on multi-agent technology

Author

Hongjin Liu ; Bin Yuan ; Hongwei Dai ; Jikeng Lin ; Ni, Y.X.

Author_Institution

Dept. of Electr. & Electron. Eng., Hong Kong Univ., China

Volume

3

fYear

2001

fDate

15-19 July 2001

Firstpage

1478

Abstract

Power system deregulation has become a worldwide trend which introduces competition in power system in order to realize efficient electricity production and investment. In this regard, the power market simulator will be a useful tool to study bidding strategies, market operation and market power and to train market operators. In this paper, the framework design of a novel power market simulator based on the state-of-the-art multi-agent technology is suggested and described in detail, which is the first phase in developing a general-purpose power market simulator.

Keywords

electricity supply industry; investment; multi-agent systems; power system economics; power system simulation; bidding strategies; electricity production; general-purpose power market simulator; investment; market operation; market power; multi-agent technology; power system deregulation; state-of-the-art; Australia; Computational modeling; Economic forecasting; Electricity supply industry deregulation; Investments; Power markets; Power system modeling; Power system simulation; Production systems; USA Councils;

fLanguage

English

Publisher

ieee

Conference_Titel

Power Engineering Society Summer Meeting, 2001

Conference_Location

Vancouver, BC, Canada

Print_ISBN

0-7803-7173-9

Type

conf

DOI

10.1109/PESS.2001.970294

Filename

970294