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Authors: Silvano Cincotti and Giulia Gallo

Affiliation: University of Genoa, Italy

ISBN: 978-989-8425-96-6

Keyword(s): Agent-based computational economics, Electricity markets, Reinforcement learning, Multi-agent systems.

Related Ontology Subjects/Areas/Topics: Agents ; Artificial Intelligence ; Artificial Intelligence and Decision Support Systems ; Distributed and Mobile Software Systems ; Economic Agent Models ; Enterprise Information Systems ; Knowledge Engineering and Ontology Development ; Knowledge-Based Systems ; Multi-Agent Systems ; Software Engineering ; Symbolic Systems

Abstract: The paper presents an agent-based framework for modeling and simulating power exchanges, the Genoa Artificial Power Exchange (GAPEX). The framework is implemented in MATLAB using the OOP paradigm, which allows one to define classes using a Java/C++ like syntax. GAPEX allows creation of artificial power exchanges where what-if analysis can be performed. GAPEX also reproduces exactly the market clearing procedure (e.g. by calculating Locational Marginal Prices based on the Italian high-voltage transmission network with its zonal subdivision) and the generation plants modeled are in direct correspondence with the real ones. Moreover, the presence of affine total cost functions for the generation plants results in payoff either positive, negative and null. This has major implications as negative reward are not generally considered by reinforcement learning algorithms. In order to overcome such limitation, an enhanced version of the Roth-Erev algorithm (i.e., that takes into account also n egative payoffs) is presented and discussed. Results point out effectiveness of the proposed enhanced learning algorithm. Moreover, computational experiments performed within GAPEX point out a close agreement with historical real market data during both peak- and off-peak load hours thus confirming the direct applicability of GAPEX to model and to simulate power exchanges. (More)

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Paper citation in several formats:
Cincotti, S. and Gallo, G. (2012). GAPEX: AN AGENT-BASED FRAMEWORK FOR POWER EXCHANGE MODELING AND SIMULATION.In Proceedings of the 4th International Conference on Agents and Artificial Intelligence - Volume 2: ICAART, ISBN 978-989-8425-96-6, pages 33-43. DOI: 10.5220/0003740300330043

@conference{icaart12,
author={Silvano Cincotti. and Giulia Gallo.},
title={GAPEX: AN AGENT-BASED FRAMEWORK FOR POWER EXCHANGE MODELING AND SIMULATION},
booktitle={Proceedings of the 4th International Conference on Agents and Artificial Intelligence - Volume 2: ICAART,},
year={2012},
pages={33-43},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0003740300330043},
isbn={978-989-8425-96-6},
}

TY - CONF

JO - Proceedings of the 4th International Conference on Agents and Artificial Intelligence - Volume 2: ICAART,
TI - GAPEX: AN AGENT-BASED FRAMEWORK FOR POWER EXCHANGE MODELING AND SIMULATION
SN - 978-989-8425-96-6
AU - Cincotti, S.
AU - Gallo, G.
PY - 2012
SP - 33
EP - 43
DO - 10.5220/0003740300330043

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