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  • © 2018

Electricity Markets with Increasing Levels of Renewable Generation: Structure, Operation, Agent-based Simulation, and Emerging Designs

  • Includes recent research on multi-agent energy markets
  • Describes the state-of-the-art on the theory and practice of intelligent agents for liberalized energy markets
  • Brings together researchers and industry practitioners from the areas of intelligent agents and energy markets

Part of the book series: Studies in Systems, Decision and Control (SSDC, volume 144)

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Table of contents (11 chapters)

  1. Front Matter

    Pages i-xxvi
  2. Electricity Markets and Autonomous Computational Agents

    1. Front Matter

      Pages 1-1
    2. Overview of Wholesale Electricity Markets

      • Erik Ela, Michael Milligan, Aaron Bloom, Jaquelin Cochran, Audun Botterud, Aaron Townsend et al.
      Pages 3-21
  3. Electricity Markets with Large Penetrations of Variable Generation: Current and Emerging Designs

    1. Front Matter

      Pages 79-79
    2. Market Prices in a Power Market with More Than 50% Wind Power

      • Klaus Skytte, Poul Erik Grohnheit
      Pages 81-94
    3. Incentivizing Flexibility in System Operations

      • Erik Ela, Michael Milligan, Aaron Bloom, Audun Botterud, Aaron Townsend, Todd Levin
      Pages 95-127
    4. Long-Term Resource Adequacy, Long-Term Flexibility Requirements, and Revenue Sufficiency

      • Erik Ela, Michael Milligan, Aaron Bloom, Audun Botterud, Aaron Townsend, Todd Levin
      Pages 129-164
  4. Agent-based Simulation of Electricity Markets with Increasing Levels of Variable Generation: Traditional and New Design Elements

    1. Front Matter

      Pages 187-187
    2. Multi-agent Electricity Markets and Smart Grids Simulation with Connection to Real Physical Resources

      • Tiago Pinto, Zita Vale, Isabel Praça, Luis Gomes, Pedro Faria
      Pages 305-327

About this book

This book describes the common ground between electricity markets (EMs) and software agents (or artificial intelligence generally). 
It presents an up-to-date introduction to EMs and intelligent agents, and offers a comprehensive description of the research advances and key achievements related to existing and emerging market designs to reliably and efficiently manage the potential challenges of variable generation (VG). Most EMs are unique in their complex relationships between economics and the physics of energy, but were created without the notion that large penetrations of variable generation (VG) would be part of the supply mix. An advanced multi-agent approach simulates the behavior of power markets over time, particularly markets with large-scale penetrations of renewable resources.
 
It is intended as a reference book for researchers, academics and industry practitioners, but given the scope of the chapters and the highly accessiblestyle, the book also provides a coherent foundation for several different graduate courses.

Reviews

“The book explores in depth the intersection between electricity markets and multi-agent systems. To the best of our knowledge this is the first single volume that tries to achieve this, having a large scope, from more traditional to emerging electricity markets and from market design to agent-based simulation.” (Georgios Martinopoulos, Energy, Vol. 186, November, 2019)

Editors and Affiliations

  • National Laboratory of Energy and Geology, Lisbon, Portugal

    Fernando Lopes

  • University of Lisbon, Lisbon, Portugal

    Helder Coelho

About the editors


Bibliographic Information

  • Book Title: Electricity Markets with Increasing Levels of Renewable Generation: Structure, Operation, Agent-based Simulation, and Emerging Designs

  • Editors: Fernando Lopes, Helder Coelho

  • Series Title: Studies in Systems, Decision and Control

  • DOI: https://doi.org/10.1007/978-3-319-74263-2

  • Publisher: Springer Cham

  • eBook Packages: Engineering, Engineering (R0)

  • Copyright Information: Springer International Publishing AG 2018

  • Hardcover ISBN: 978-3-319-74261-8Published: 23 February 2018

  • Softcover ISBN: 978-3-319-89273-3Published: 04 June 2019

  • eBook ISBN: 978-3-319-74263-2Published: 14 February 2018

  • Series ISSN: 2198-4182

  • Series E-ISSN: 2198-4190

  • Edition Number: 1

  • Number of Pages: XXVI, 327

  • Number of Illustrations: 2 b/w illustrations, 67 illustrations in colour

  • Topics: Energy Systems, Computational Intelligence, Energy Policy, Economics and Management

Buy it now

Buying options

eBook USD 149.00
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book USD 199.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book USD 199.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Other ways to access