{"type":"ScholarlyArticle","title":"Towards Revolutionized Smart Grids: An AI-Driven Broker for Improved Operational Efficiency","authors":[{"name":"Sanjay Chandlekar","slug":"sanjay-chandlekar","given":"Sanjay","family":"Chandlekar","affiliation":"International Institute of Information Technology (IIIT) Hyderabad , India"}],"abstract":"Smart grid system encompasses large power plants in the wholesale market and retail customers in the tariff market. An electricity broker liaises between the wholesale and tariff markets by procuring electricity from the power plants and selling it to subscribed customers. In our work, we address the prominent challenges in the smart grid system to achieve better efficiency. We discuss the wholesale market, for which we design efficient bidding strategies in periodic double auctions (PDAs), and the tariff market, which includes tariff contract generation strategies and peak demand mitigation strategies. We use the PowerTAC simulator as a test-bed; also utilise these strategies for our autonomous broker, VidyutVanika, which has been proven efficient in the PowerTAC tournaments.","doi":"10.24963/ijcai.2024/959","url":"https://ijcai.org/proceedings/2024/959","pdf":"https://ijcai.org/proceedings/2024/0959.pdf","markdown":"https://ijcai.org/proceedings/2024/959.md","bibtex":"https://ijcai.org/proceedings/2024/bibtex/959","volume":{"slug":"2024","title":"Proceedings of the Thirty-Third International Joint Conference on Artificial Intelligence","short_title":"IJCAI 2024","url":"https://ijcai.org/proceedings/2024/","year":2024,"location":"Jeju, Korea","dates":"3-9 August 2024","editors":"Kate Larson","isbn":"978-1-956792-04-1","publisher":"International Joint Conferences on Artificial Intelligence Organization","doi_prefix":"10.24963/ijcai.2024"},"section":"Doctoral Consortium","track":"Doctoral Consortium","number":959,"pages":{"first":8488,"last":8489},"keywords":["DC: Machine Learning","DC: Planning and Scheduling","DC: Game Theory and Economic Paradigms","DC: Agent-based and Multi-agent Systems"],"videos":[],"references":[{"position":1,"raw":"[Chandlekar et al., 2022a] S Chandlekar, BS Pedasingu, E Subramanian, S Bhat, P Paruchuri, and S Gujar. Vidyut- vanika21: An autonomous intelligent broker for smart- grids. IJCAI'22, pages 158-164, 2022.","title":"Vidyutvanika21: An autonomous intelligent broker for smartgrids","authors":"Chandlekar","year":"2022","venue":"IJCAI'22","doi":null,"url":null,"internal_url":null},{"position":2,"raw":"[Chandlekar et al., 2022b] S Chandlekar, E Subramanian, S Bhat, P Paruchuri, and S Gujar. Multi-unit double auctions: Equilibrium analysis and bidding strategy using ddpg in smart-grids. AAMAS'22, page 1569-1571, 2022.","title":"Multi-unit double auctions: Equilibrium analysis and bidding strategy using ddpg in smart-grids","authors":"Chandlekar","year":"2022","venue":"AAMAS'22","doi":null,"url":null,"internal_url":null},{"position":3,"raw":"[Chandlekar et al., 2023a] S Chandlekar, A Boroju, S Jain, and S Gujar. A novel demand response model and method for peak reduction in smart grids -powertac. AAMAS'23, page 2520-2522, 2023.","title":"A novel demand response model and method for peak reduction in smart grids -powertac","authors":"Chandlekar","year":"2023","venue":"AAMAS'23","doi":null,"url":null,"internal_url":"/proceedings/2023/389"},{"position":4,"raw":"[Chandlekar et al., 2023b] S Chandlekar, S Jain, and S Gu- jar. A novel demand response model and method for peak reduction in smart grids -powertac. IJCAI'23, pages 3497-3504, 2023.","title":"A novel demand response model and method for peak reduction in smart grids -powertac","authors":"Chandlekar","year":"2023","venue":"IJCAI'23","doi":null,"url":null,"internal_url":"/proceedings/2023/389"},{"position":5,"raw":"[Chandlekar et al., 2023c] S Chandlekar, BS Pedasingu, S Ghosh, E Subramanian, S Bhat, P Paruchuri, and S Gu- jar. VidyutVanika: AI-Based Autonomous Broker for Smart Grids: From Theory to Practice, pages 25-56. Book Chapter, Springer International Publishing, 2023.","title":"VidyutVanika: AI-Based Autonomous Broker for Smart Grids: From Theory to Practice","authors":"Chandlekar","year":"2023","venue":null,"doi":null,"url":null,"internal_url":null},{"position":6,"raw":"[Chandlekar et al., 2023d] S Chandlekar, E Subramanian, and S Gujar. Multi-armed bandit based tariff generation strategy for multi-agent smart grid systems. EMAS'23, pages 113-129. Springer Nature Switzerland, 2023.","title":"Multi-armed bandit based tariff generation strategy for multi-agent smart grid systems","authors":"Chandlekar","year":"2023","venue":"EMAS'","doi":null,"url":null,"internal_url":null},{"position":7,"raw":"[Ketter et al., 2013] W Ketter, J Collins, and P Reddy. Power tac: A competitive economic simulation of the smart grid. Energy Economics, pages 262-270, 2013.","title":"Power tac: A competitive economic simulation of the smart grid","authors":"Ketter, Collins, Reddy","year":"2013","venue":"Energy Economics","doi":null,"url":null,"internal_url":null}],"license_note":"Copyright International Joint Conferences on Artificial Intelligence."}