Multi-agent system for modelling the restructured energy market

Abstract

Several issues related to the deregulated electricity market have been addressed and incorporated in a comprehensive electricity market simulator that models the restructured energy market and its participants, as well as their communications and interactions, using a multi agent approach. The rules of the Singapore Electricity market have been implemented in this framework. The resulting system is able to simulate and solve in real time the spot market for trading energy and reserve, using a full network model to represent the physical system.The behaviour of the generation companies has also been modelled through the design of an efficient evolutionary algorithm to solve the unit commitment problem in the deregulated environment. This algorithm has been used to implement a bidding strategy.The developed market simulator is an efficient tool to study not only the Singapore market, but also any other market structure due to its flexible and adaptable design.