Power industry deregulation has changed the determination of electricity prices from
administration approval to market clearing. Affected by multiple random factors, the market …

In deregulated power markets, electricity suppliers have the option to trade in the spot
market, derivatives market, and bilateral contract market. The spot market is always …

The major electricity market models include: pools, bilateral contracts and hybrid models.
Pool prices tend to change quickly and variations are usually highly unpredictable. In this …

This chapter presents the key features of an agent-based simulation tool, called MATREM
(for Multi-Agent TRading in Electricity Markets). The tool allows the user to conduct a wide …

The European Union defined ambitious targets for the production of energy from renewable
energy sources. Most European markets trade now high levels of variable renewable energy …

Currently, in most European electricity markets, power bids are based on forecasts
performed 12 to 36 hours ahead. Actual wind power forecast systems still lead to large …

Agent technology is a relatively new and rapidly expanding area of research and
development. The major motivations for the increasing interest in intelligent agents and multi …

Electricity markets (EMs) are a relatively new reality and also an evolving one, since both
market rules and market players are constantly changing. Market participants can purchase …

The electricity industry is undergoing a deep transformation as Europe moves towards a
greener, healthier future—the growth of renewable generation has surpassed all …

Variable generation (VG), such as wind power, has increased significantly in recent years.
VG has several unique characteristics compared to those of traditional power plants …