Strategic bidding in a competitive electricity market: An intelligent method using Multi-Agent Transfer Learning based on reinforcement learning

Jiahui Wu, Jidong Wang and Xiangyu Kong

Energy, 2022, vol. 256, issue C

Abstract: The electricity market will tend to be diverse and competitive to realize Carbon Neutrality goals under Energy Internet. Moreover, bidding strategies and methods are essential for the stable and benign operation of the electricity market. With the development of artificial intelligence and computer simulation technology, multi-agent simulation has gradually become a significant method for electricity market bidding. Among them, Multi-Agent Reinforcement Learning (MARL) can help agents adapt to changing environments. In contrast, Multi-Agent Transfer Learning (MATL) can help agents learn from not only the target task but also other similar tasks. This paper proposes an intelligent strategic bidding theoretical framework in a competitive electricity market using MATL based on MARL and studies four MATL algorithms, including RNN, LSTM, GRU and BGRU. An intelligent bidding simulation model based on the four MATL algorithms is established, and the performance of the intelligent bidding simulation model in the electricity market using the four MATL algorithms based on the MARL Q-learning algorithm is compared and analyzed from the perspective of accuracy and convergence speed. And based on the multi-agent simulation model, examples of bidding strategies are carried out to verify the rationality and effectiveness of the intelligent bidding method using MATL based on MARL.

Keywords: Intelligent bidding strategy; Electricity market; Multi-agent simulation; Transfer learning; Reinforcement learning (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (11)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:256:y:2022:i:c:s0360544222015602

DOI: 10.1016/j.energy.2022.124657

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