An Intelligent Broker Agent for Energy Trading: An MDP Approach
Proceedings of the Twenty-Third International Joint Conference on Artificial Intelligence. Pages 234-239.
Abstract
This paper details the development and evaluation of AstonTAC, an energy broker that successfully participated in the 2012 Power Trading Agent Competition (Power TAC). AstonTAC buys electrical energy from the wholesale market and sells it in the retail market. The main focus of the paper is on the broker's bidding strategy in the wholesale market. In particular, it employs Markov Decision Processes (MDP) to purchase energy at low prices in a day-ahead power wholesale market, and keeps energy supply and demand balanced. Moreover, we explain how the agent uses Non-Homogeneous Hidden Markov Model (NHHMM) to forecast energy demand and price. An evaluation and analysis of the 2012 Power TAC finals show that AstonTAC is the only agent that can buy energy at low price in the wholesale market and keep energy imbalance low.
@inproceedings{ijcai2013p44,
title = {An Intelligent Broker Agent for Energy Trading: An MDP Approach},
author = {Kuate, Rodrigue Talla and He, Minghua and Chli, Maria and Wang, Hai H.},
booktitle = {Proceedings of the Twenty-Third International Joint Conference on
Artificial Intelligence, {IJCAI-13}},
publisher = {AAAI Press / International Joint Conferences on Artificial Intelligence},
editor = {Francesca Rossi},
pages = {234--239},
year = {2013},
month = {8},
url = {https://ijcai.org/proceedings/2013/44},
}
TY - CPAPER TI - An Intelligent Broker Agent for Energy Trading: An MDP Approach AU - Kuate, Rodrigue Talla AU - He, Minghua AU - Chli, Maria AU - Wang, Hai H. T2 - Proceedings of the Twenty-Third International Joint Conference on Artificial Intelligence, IJCAI-13 PB - AAAI Press / International Joint Conferences on Artificial Intelligence PY - 2013 SP - 234 EP - 239 UR - https://ijcai.org/proceedings/2013/44 ER -Copied
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