Agent based model for optimal generation mix determination

In this work the problem of defining the optimal generation mix for a system with a liberalised electricity market is dealt with by an agent based model, in which several GENCOs compete to define the optimal planning strategy that maximizes their profits. Strategies are defined according to the market share that each GENCO wants to satisfy and the best solution is found by means of a genetic algorithm that evaluates the fitness of strategies making them compete in a electricity market simulator. Results provided by the model describe the optimal generation mix for a set of GENCOs making up the whole generation mix for a system with reference to a specified target year.