This paper reviews concepts and methods for electricity customers classification in competitive electricity markets. We present an overview of classification techniques, including classical approaches (applications of statistics and deterministic clustering techniques), as well as methods based on artificial intelligence (neural networks, fuzzy systems) and frequency domain approaches (harmonic...

In the restructured electricity industry, electricity pooling markets are an oligopoly with strategic producers possessing private information (private production cost function). We focus on pooling markets where aggregate demand is represented by a non-strategic agent. Inelasticity of demand is a main difficulty in electricity markets which can potentially result in market failure and high pri...

Energy price forecast is the key information for generating companies to prepare their bids in the electricity markets. However, this forecasting problem is complex due to nonlinear, non-stationary, and time variant behavior of electricity price time series. Accordingly, in this paper a new strategy is proposed for electricity price forecast. The forecast strategy includes Wavelet Transform (WT...

In this paper the problem of developing bidding strategies for the participants of dynamic oligopolistic electricity markets is studied. Attention is given to strategic bidding of load serving entities (LSE) in these markets. We model oligopolistic electricity markets as non-linear dynamical systems and use discrete-time Nash bidding strategies. We assume a Cournot model for our game, where the...

Several measures of volatility have been developed in order to quantify the degree of uncertainty of an energy price series, which include historical volatility and price velocities, among others. This paper suggests using the permutation entropy, topological entropy and the modified permutation entropy as alternatives to measure volatility in energy markets. Simulated data show that these meas...

The main goal of MASCEM – Multi-Agent Simulator of Competitive Electricity Markets, is to give electricity market entities a tool to support their decisions and to obtain knowledge about market behaviour and evolution. Intelligent agents with strategic behaviour represent entities from electricity markets. In this paper we propose some illustrative scenarios to explain and take some conclusions...

As public utilities continue to evolve from regulated monopoly structures to open markets that promote free and fair competition, new players, new rules and new behaviors will continue to emerge, and given the uncertainties associated with this process, the need for suitable and a well-representative model increases. In this paper we present an Agent-Based Model (ABM) developed to capture some ...

The objective of this paper is to present experimental results for testing the performance of different auction mechanisms related to the introduction of competitive markets for the generation of electricity. The research is based on the concept of smart markets introduced by Vernon Smith and a simulation model (PowerWeb) of a realistic bulk power system. There are unique physical aspects assoc...