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Simple and Linear Bids in Multi-agent Daily Electricity Markets: A Preliminary Report

  • Hugo Algarvio
  • Fernando Lopes
  • João Santana
Conference paper
Part of the Advances in Intelligent Systems and Computing book series (AISC, volume 800)

Abstract

Variable generation (VG) has several unique characteristics compared to those of traditional thermal and hydro-power plants, notably significant fixed capital costs, but near-zero or zero variable production costs. Increasing the penetration of VG tend to reduce energy prices over time, increase the occurrence of zero or negatively priced periods, and reduce the cleared energy levels of existing plants. This paper presents an overview of an agent-based system, called MATREM, to simulate electricity markets. Special attention is devoted to a case study that aims at analyzing the behavior of a simulated day-ahead market in situations with increasing levels of wind generation, and also comparing market schedules and prices in situations involving either simple and linear bids.

Keywords

Electricity market Day-ahead market Simple and linear bids Wind power MATREM system 

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Copyright information

© Springer International Publishing AG, part of Springer Nature 2019

Authors and Affiliations

  1. 1.Instituto Superior TécnicoUniversidade de Lisboa, INESC-IDLisbonPortugal
  2. 2.LNEG-National Research InstituteLisbonPortugal

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