Operations Research, Systems Engineering and Industrial Engineering Commons^™

Electric Power Market Modeling With Multi-Agent Reinforcement Learning, Nathanael K. Miksis

Masters Theses 1911 - February 2014

Agent-based modeling (ABM) is a relatively new tool for use in electric power market research. At heart are software agents representing real-world stakeholders in the industry: utilities, power producers, system operators, and regulators. Agents interact in an environment modeled after the real-world market and underlying physical infrastructure of modern power systems. Robust simulation laboratories will allow interested parties to stress test regulatory changes with agents motivated and able to exploit any weaknesses, before making these changes in the real world. Eventually ABM may help develop better understandings of electric market economic dynamics, clarifying both delineations and practical implications of market …