Intelligent bidding in smart electricity markets

Abstract

This paper has two aims. Firstly, to briefly present overall objectives and expected outcome of an ongoing effort concerning design, implementation and the analysis of next generation energy systems based on anticipatory control and a set of ICT emerging technologies and innovations. Secondly, to describe an early proof-of-concept implementation and the associated experimentation of a simulation platform focused on holistic detailed studies of electric energy markets. The proposed platform allows us to elucidate issues related to the open and smart participation of producers and consumers on large-scale e-markets. Based on an existing simulation system, the authors present the required theoretical studies, the enabling technologies, and the practical tools that contribute to the development of such a platform capable of truly large scale simulations. Elements of game theory are utilized to solve the optimization problem related to the maximization of the social welfare of producers and consumers. Selected simulation results associated with the basic required characteristics are presented. © 2017 by IGI Global. All rights reserved.