Supply-side gaming on electricity markets with physical constrained transmission network

Eric Guerci, Mohammad Ali Rastegar, Silvano Cincotti, Federico Delfino, Renato Procopio and Marco Ruga
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Mohammad Ali Rastegar: Chercheur indépendant
Silvano Cincotti: DIME - Dipartimento di ingegneria meccanica, energetica, gestionale e dei trasporti - UniGe - Università degli studi di Genova = University of Genoa
Federico Delfino: DITEN - Dipartimento di Ingegneria Navale, Elettrica, Elettronica e delle Telecomunicazioni / Dept. of Electrical, Electronic, Telecommunications Engineering and Naval Architecture - UniGe - Università degli studi di Genova = University of Genoa
Renato Procopio: DITEN - Dipartimento di Ingegneria Navale, Elettrica, Elettronica e delle Telecomunicazioni / Dept. of Electrical, Electronic, Telecommunications Engineering and Naval Architecture - UniGe - Università degli studi di Genova = University of Genoa
Marco Ruga: Chercheur indépendant

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Abstract: This paper proposes an agent-based computational approach to study physical constrained electricity markets. The computational model consists of repeated day-ahead market sessions and a two-zone transmission network. Different inelastic load serving entities configurations are considered for studying how producers learn to strategically decommit their units and how they exercise market power by profiting from transmission network constraints. Learning producers are modeled by different multi-agent learning algorithms, such as the Q-Learning, the EWA learning and the GIGA-WoLF. Computational results point out that all learning models considered are able to learn to appropriately decommit their units and to sustain the exertion of zonal market power.

Keywords: Electricity markets; agent-based computational economics; multi-agent learning (search for similar items in EconPapers)
Date: 2008-05-28
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Published in Electricity Market, 2008. EEM 2008. 5th International Conference on European, May 2008, Lisboa, Portugal. pp.1-6, ⟨10.1109/EEM.2008.4579076⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-00871130

DOI: 10.1109/EEM.2008.4579076

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