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Autonomous Power Trading Approaches of a Winner Broker

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Agent-Mediated Electronic Commerce. Designing Trading Strategies and Mechanisms for Electronic Markets (AMEC/TADA 2015, AMEC/TADA 2016)

Part of the book series: Lecture Notes in Business Information Processing ((LNBIP,volume 271))

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Abstract

The future smart grid will bring new actors such as local producers, storage capacities and interruptible consumers to the existing electricity grid along with the challenge of sustainability. Intermediary power actors, i.e., brokers, will take the burden of financial management, during the integration of these customers. This paper describes the mathematical modelling, formalization and the design of decision making systems of a winner broker agent, AgentUDE14, which competed in Power Trading Agent Competition 2014 Final (Power TAC). In this work, we divide the main trading problem into sub problems and then formalize and solve them individually to reduce the mathematical complexity. In the wholesale market, we propose a dynamic programming approach whereas our retailer algorithm uses an aggressive tariff publication policy, which exploits tariff fees, such as early withdrawal penalty and bonus payment. We show the results that AgentUDE14 is a successful agent in many metrics, analyzing the tournament data from Power TAC 2014 Finals.

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Author information

Authors and Affiliations

  1. DAWIS, University of Duisburg-Essen, Schützenbahn 70, 45127, Essen, Germany

    Serkan Özdemir & Rainer Unland

Authors
  1. Serkan Özdemir
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  2. Rainer Unland
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Corresponding author

Correspondence to Serkan Özdemir .

Editor information

Editors and Affiliations

  1. School of Informatics, University of Edinburgh , Cambridge, United Kingdom

    Sofia Ceppi

  2. Department of Computer Science, Ashkelon Academic College , Ashkelon, Israel

    Esther David

  3. Department of EE and CS, Vanderbilt University , Nashville, Tennessee, USA

    Chen Hajaj

  4. Smart Systems Group, Heriot-Watt University , Edinburgh, United Kingdom

    Valentin Robu

  5. Information Technology, The American College of Greece , Agia Paraskevi, Athens, Greece

    Ioannis A. Vetsikas

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Özdemir, S., Unland, R. (2017). Autonomous Power Trading Approaches of a Winner Broker. In: Ceppi, S., David, E., Hajaj, C., Robu, V., Vetsikas, I. (eds) Agent-Mediated Electronic Commerce. Designing Trading Strategies and Mechanisms for Electronic Markets. AMEC/TADA AMEC/TADA 2015 2016. Lecture Notes in Business Information Processing, vol 271. Springer, Cham. https://doi.org/10.1007/978-3-319-54229-4_10

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  • DOI: https://doi.org/10.1007/978-3-319-54229-4_10

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  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-319-54228-7

  • Online ISBN: 978-3-319-54229-4

  • eBook Packages: Computer ScienceComputer Science (R0)

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