Motivations / Motivações:
Traditional vertically integrated power utilities around the world have evolved from monopoly structures to open markets. Electric utility systems were unbundled and replaced with a number of separate business entities dealing with the generation, transmission, and distribution of electric power. The deregulation process has led to the establishment of a wholesale market for electricity generation, where competing generators offer their electricity output to retailers, and a retail market for electricity retailing, where end-use customers choose their supplier from competing electricity retailers.
The novelty of the evolving electric power industry implies that researchers lack insight into numerous open problems that are being raised. Chief among these are the technical difficulties to understand the internal dynamics of deregulated electricity markets and the additional complexities to coordinate economic and financial issues. Clearly, there is a pressing need for both advanced modeling approaches simulating how market participants react to economic changes and energy management software tools supporting key market activities.
Multi-agent systems represent a relatively new and rapidly expanding area of research and development. Software agents can be designed to act in open and distributed environments, with incomplete and uncertain information, and may efficiently manage cooperative and competitive interactions with other agents. Conceptually, a multi-agent approach is an ideal fit to the naturally distributed domain of a deregulated electricity market. Accordingly, this project addresses the challenge of using software agents to help manage the complexity of electricity markets (EMs), particularly retail markets.
Main Goals / Principais Objectivos:
MAN-REM intends to go a step forward in the development of EM simulators, by putting together the experience and expertise of a multi-disciplinary research team. Specifically, the overall goal of the project is to develop an EM simulator enabling market participants to:
Negotiate the terms of forward bilateral contracts, reach (near) Pareto-optimal agreements, and unilaterally de-commit from contracts by paying de-commitment penalties. ... OPTooooooooooooooooooomzjhxbxbajzbzbzjzbzjab hzhzhhz
Efficiently manage the risk, notably the risk associated with producers and retailers, by considering the trading of energy in spot markets, futures markets, and mainly forward markets . taking into account trade-offs between the risk and return of bilateral contracts -notably contracts involving traders and customers taking into account trade-offs between the risk and return of bilateral contracts -notably contracts involving traders and customers taking into account trade-offs between the risk and return of bilateral contracts -notably contracts involving traders and customers taking into account trade-offs between the risk and return of bilateral contracts -notably contracts involving traders and customers
Ally into beneficial coalitions, particularly coalitions involving end-use customers, to achieve more powerful negotiation positions, and thus negotiate better tariffs.
The main expected result will be an improved energy management software tool, overcoming most technical limitations of existing EM simulators , and able to simulate EMs in a more realistic way, particularly bilateral forward markets.
Workshops: Leaflet: Man-Rem.pdf Final Report: Report.pdf