Decision Support System for the Negotiation of Bilateral Contracts in Electricity Markets
The use of Decision Support Systems (DSS) in the field of Electricity Markets (EM) is essential to provide strategic support to its players. EM are constantly changing, dynamic environments, with many entities which give them a particularly complex nature. There are several simulators for this purpose, including Bilateral Contracting. However, a gap is noticeable in the pre-negotiation phase of energy transactions, particularly in gathering information on opposing negotiators. This paper presents an overview of existing tools for decision support to the Bilateral Contracting in EM, and proposes a new tool that addresses the identified gap, using concepts related to automated negotiation, game theory and data mining.
KeywordsAutomated negotiation Bilateral contracts Data mining Decision support systems Electricity markets Game theory
This work has received funding from the European Union’s Horizon 2020 research and innovation programme under the Marie Sklodowska-Curie grant agreement No 641794 (project DREAM-GO) and grant agreement No 703689 (project ADAPT); and from FEDER Funds through COMPETE program and from National Funds through FCT under the project UID/EEA/00760/2013.
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