Intelligent Bidding in Smart Electricity Markets

Abstract

This paper has two aims. Firstly, to briefly present overall objectives and expected outcome of an on-going effort concerning design, implementation and the analysis of next generation energy systems based on anticipatory control and a set of ICT emerging technologies and innovations. Secondly, to describe an early proof-of-concept implementation and the associated experimentation of a simulation platform focused on holistic detailed studies of electric energy markets. The proposed platform allows us to elucidate issues related to the open and smart participation of producers and consumers on large-scale e-markets. Based on an existing simulation system, the authors present the required theoretical studies, the enabling technologies, and the practical tools that contribute to the development of such a platform capable of truly large scale simulations. Elements of game theory are utilized to solve the optimization problem related to the maximization of the social welfare of producers and consumers. Selected simulation results associated with the basic required characteristics are presented.

Information models and systems for next generation energy markets

“…It should be pointed out that chapters 5 and 6 contain material from papers [1] and [3], chapter 3 from [4], chapter 7 from paper [8], chapter 8 from [5] and [6], chapter 9 from [7], and finally chapter 10 from [9].…”

“…However, power systems today are going through demand side transformation as described in section1. 1. AMI, IoT and Smart Grid can result in a higher and more active participation of demand, either directly in energy markets or through programs such as demand-response.…”

“…One exception is the case of Germany and Austria which are merged into one bidding zone. This merge is a result of the traditionally tight cooperation of the two countries and the strong interdependence of their respective grids 1 . An other exception are the Nord Pool markets that are divided into several bidding areas where Sweden, for example, is divided into four bidding areas.…”

“…Figure 3.2 illustrates the reference architecture for the Smart Grid Analytics use case and may be considered a component wise simplified view of the one given in figure 3. 1.…”

“…Siddhi is responsible for parts of the data communication shown in the center and the right part of figure 3. 1.…”