Welcome to the InfoSci Platform
Intelligent Bidding in Smart Electricity Markets

Intelligent Bidding in Smart Electricity Markets

Magda Foti, Manolis Vavalis
Copyright: © 2017 |Pages: 23
ISBN13: 9781522516712|ISBN10: 1522516719|EISBN13: 9781522516729
DOI: 10.4018/978-1-5225-1671-2.ch021
Cite Chapter Cite Chapter

MLA

Foti, Magda, and Manolis Vavalis. "Intelligent Bidding in Smart Electricity Markets." Renewable and Alternative Energy: Concepts, Methodologies, Tools, and Applications, edited by Information Resources Management Association, IGI Global, 2017, pp. 712-734. https://doi.org/10.4018/978-1-5225-1671-2.ch021

APA

Foti, M. & Vavalis, M. (2017). Intelligent Bidding in Smart Electricity Markets. In I. Management Association (Ed.), Renewable and Alternative Energy: Concepts, Methodologies, Tools, and Applications (pp. 712-734). IGI Global. https://doi.org/10.4018/978-1-5225-1671-2.ch021

Chicago

Foti, Magda, and Manolis Vavalis. "Intelligent Bidding in Smart Electricity Markets." In Renewable and Alternative Energy: Concepts, Methodologies, Tools, and Applications, edited by Information Resources Management Association, 712-734. Hershey, PA: IGI Global, 2017. https://doi.org/10.4018/978-1-5225-1671-2.ch021

Export Reference

Mendeley
Favorite

Abstract

This paper has two aims. Firstly, to briefly present overall objectives and expected outcome of an on-going 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.

Request Access

You do not own this content. Please login to recommend this title to your institution's librarian or purchase it from the IGI Global bookstore.