MASCEM: Optimizing the performance of a multi-agent system

Gabriel Santos, Tiago Pinto, Isabel Praça and Zita Vale

Energy, 2016, vol. 111, issue C, 513-524

Abstract: The electricity market sector has suffered massive changes in the last few decades. The worldwide electricity market restructuring has been conducted to potentiate the increase in competitiveness and thus decrease electricity prices. However, the complexity in this sector has grown significantly as well, with the emergence of several new types of players, interacting in a constantly changing environment. Several electricity market simulators have been introduced in recent years with the purpose of supporting operators, regulators, and the involved players in understanding and dealing with this complex environment. This paper presents a new, enhanced version of MASCEM (Multi-Agent System for Competitive Electricity Markets), an electricity market simulator with over ten years of existence, which had to be restructured in order to be able to face the highly demanding requirements that the decision support in this field requires. This restructuring optimizes the performance of MASCEM, both in results and execution time.

Keywords: Decision support systems; Electricity markets; Modelling; Multi-agent systems; Simulation (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (10)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:111:y:2016:i:c:p:513-524

DOI: 10.1016/j.energy.2016.05.127

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