An Agent-Based Bidding Simulation Framework to Recognize Monopoly Behavior in Power Markets

Although many countries prefer deregulated power markets as a means of containing costs, monopoly may still exist. In this study, an agent-based bidding simulation framework is proposed to detect whether there will be in the market. A security-constrained unit commitment (SCUC) conducted clear Using characteristics that agent can fully explore certain environment and Q-learning algorithm, each producer market modeled agent, selects quotation strategy improve profits based on historical information. The numerical results show with potential among producers, producers not converge, locational marginal price eventually become unacceptable. Whereas, without potential, maintain competition remains active healthy.