Data Mining Approach to support the Generation of Realistic Scenarios for Multi-Agent simulation of Electricity Markets

Teixeira, Brígida; Silva, Francisco; Pinto, Tiago; Praça, Isabel; Santos, Gabriel; Vale, Zita

http://hdl.handle.net/10400.22/5962

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This paper presents the Realistic Scenarios Generator (RealScen), a tool that processes data from real electricity markets to generate realistic scenarios that enable the modeling of electricity market players’ characteristics and strategic behavior. The proposed tool provides significant advantages to the decision making process in an electricity market environment, especially when coupled with a multi-agent electricity markets simulator. The generation of realistic scenarios is performed using mechanisms for intelligent data analysis, which are based on artificial intelligence and data mining algorithms. These techniques allow the study of realistic scenarios, adapted to the existing markets, and improve the representation of market entities as software agents, enabling a detailed modeling of their profiles and strategies. This work contributes significantly to the understanding of the interactions between the entities acting in electricity markets by increasing the capability and realism of market simulations.