Electricity Auction Simulation Platform for Learning Competitive Energy Markets

Xavier, Edgar Bellini; Goncalves, David A.V.; Dias, Bruno H.; Borba, Bruno Soares Moreira César

doi:10.1109/mpot.2016.2563179

Cited by 3 publications

(1 citation statement)

References 3 publications

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“…They then each compete to get the best price. In this kind of auction, the ideal transaction price is the equilibrium price corresponding to the value at the intersection point of the supply curve and the demand curve (Xavier et al, 2017). The bilateral auction is one of the most popular models studied in the electricity market.…”

Section: Bilateral Auctionmentioning

confidence: 99%

Transactive energy system: Concept, configuration, and mechanism

Zhou¹,

Li²,

Zong³

et al. 2023

Front. Energy Res.

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Transactive energy systems (TESs) combine both economical and control mechanisms, and have become promising solutions to integrate distributed energy resources (DERs) in modern power systems. This article will introduce the basic concept of a TES, including its definition, process, time scale, and benefits. The configuration of the TES is then described in detail from the perspectives of the physical system, information system, transaction system, and regulatory system. The transaction mechanism allows participants (e.g., customer, generator, transmission operator, marketer, etc.) to conduct various transactions with any other party to the extent that regulatory policy permits. Transactive control is regarded as one of the most advanced approaches to realize the full response potential of flexible devices and respect the end user’s privacy, preference, and free will. Finally, some challenges to the development of TESs that arise from the limitations of current equipment level and methodological concepts will be discussed. In summary, TESs provide a more efficient, fair, and transparent environment for participants to promote DERs utilization, improve market efficiency, and increase economic benefits.

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Section: Bilateral Auctionmentioning

confidence: 99%

Transactive energy system: Concept, configuration, and mechanism

Zhou¹,

Li²,

Zong³

et al. 2023

Front. Energy Res.

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An Advanced Simulation Tool for Electricity Spot Market Using Agent-Based Model

Yun,

Yang,

Liu

et al. 2022

SSRN Journal

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Optimization of Micro-Grid Electricity Market Based on Multi Agent Modeling Approach

Heidari

Moradi

Aslani

et al. 2018

International Journal of Energy Optimization and Engineering

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Micro-grids are the key technologies known to solve challenges such as increased electric demand, fatigue electric installations, electrical leakage and pressures and opposition from environmental advocacy groups. The current article is presenting an improved optimization algorithm based on a differential evolution algorithm to achieve the optimal response for managing distributed energy resources in micro-grids. The simulation results show that: 1) The final cost of network management in systems based on the agent is very favorable compared to a network regardless of the agent and also are economically much more useful and effective in coordinating various energy sources. 2) The results of the proposed algorithm are much better in comparison with the results of the Fireflies optimization algorithm, a differential evolution algorithm and the particle swarm algorithm. This comparison proves the high performance of the algorithm.

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Electricity Auction Simulation Platform for Learning Competitive Energy Markets

Cited by 3 publications

References 3 publications

Transactive energy system: Concept, configuration, and mechanism

Transactive energy system: Concept, configuration, and mechanism

An Advanced Simulation Tool for Electricity Spot Market Using Agent-Based Model

Optimization of Micro-Grid Electricity Market Based on Multi Agent Modeling Approach

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