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Optimal Algorithms for Energy Markets. Edition No. 1
VDM Publishing House, Oct 2008, Pages: 168
The deregulation of the energy industry has created
marketplaces in which producers and consumers can
operate in order to more effectively. This book
develops a new model for electricity retail where
customers may choose their supplier. It is based on
simultaneous reverse combinatorial auctions, designed
as a second-price sealed-bid multi-item auction with
supply function bidding. This mechanism prevents
strategic bidding and allows the auctioneer to
maximise its pay-off. Furthermore, we develop optimal
single-item and multi-item algorithms for winner
determination in such auctions that are significantly
less complex than those currently available in the
literature. Nevertheless, the consumption of the
energy of each singular auctioneer has to be adapted
to the submitted bids to maximise the pay-off. Thus,
this work models the constellation of energy
consumers as a distributed constraint optimisation
problem (dCOP). In order to overcome the specific
domain demands, this book presents a novel optimal
dCOP algorithm called COBB (Constraint Optimisation
By Broadcasting), and adapts state-of-the-art
counterparts. Empirical comparisons show that COBB
clearly outperforms all of them.
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