Trading agents for the smart electricity grid


Vytelingum, Perukrishnen, Ramchurn, Sarvapali D., Voice, Thomas D., Rogers, Alex and Jennings, Nicholas R. (2010) Trading agents for the smart electricity grid. In, The Ninth International Conference on Autonomous Agents and Multiagent Systems (AAMAS 2010), Toronto, Canada, 10 - 14 May 2010. , 897-904.

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Description/Abstract

The vision of the Smart Grid includes the creation of intelligent electricity supply networks to allow efficient use of energy resources, reduce carbon emissions and are robust to failures. One of the key assumptions underlying this vision is that it will be possible to manage the trading of electricity between homes and micro-grids while coping with the inherent real-time dynamism in electricity demand and supply. The management of these trades needs to take into account the fact that most, if not all, of the actors in the system are self-interested and transmission line capacities are constrained. Against this background, we develop and evaluate a novel market-based mechanism and novel trading strategies for the Smart Grid. Our mechanism is based on the Continuous Double Auction (CDA) and automatically manages the congestion within the system by pricing the flow of electricity. We also introduce mechanisms to ensure the system can cope with unforeseen demand or increased supply capacity in real time. Finally, we develop new strategies that we show achieve high market efficiency (typically over 90%).

Item Type: Conference or Workshop Item (Paper)
Additional Information: Event Dates: May 10-14, 2010
Keywords: smart grid, agents, continuous double auction, markets, balancing mechanism, energy
Divisions: Faculty of Physical Sciences and Engineering > Electronics and Computer Science > Agents, Interactions & Complexity
ePrint ID: 268361
Date Deposited: 06 Jan 2010 23:16
Last Modified: 27 Mar 2014 20:14
Further Information:Google Scholar
URI: http://eprints.soton.ac.uk/id/eprint/268361

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