A design and simulation of a Brazilian bid based short-term electricity market

• Type: Article in International Conference Proceedings Book
• Date: 2016-06-06

Authors

João Tomé Saraiva (Author) FEUP; Felipe Alves Calabria (Author) Other; Ana Paula Rocha (Author) FEUP

Conference proceedings International

Title: 13th International Conference on the European Energy Market

Pages: 1-5

Indexing

ISI Web of Knowledge

ISI Web of Science

Scopus

INSPEC

Scientific classification

FOS: Engineering and technology > Electrical engineering, Electronic engineering, Information engineering

CORDIS: Technological sciences > Engineering > Electrical engineering

Other information

DOI: 10.1109/EEM.2016.7521263

Abstract (EN): In order to overcome a number of difficulties detected on the Brazilian electricity market this paper proposes and tests a bid based short-term market. To simulate the behavior of the hydros in this new market, it was implemented an Agent-Based Model - ABM using the reinforcement QLearning algorithm, Simulated Annealing, and linear programming. In the simulations we used real data from the Brazilian power system encompassing more than 98% of the total hydro installed capacity and three years of market data. The results indicate that the management of (virtual) reservoirs can be under the responsibility of each hydro, which could save water according to their own risk perception, while it is maintained the current efficiency and security levels. Results also suggest that the final monthly short-term market prices can substantially decrease in comparison with the current prices.

Language: English

Type (Professor's evaluation): Scientific

No. of pages: 5