An intelligent broker agent for energy trading: an MDP approach

Rodrigue Talla Kuate, Minghua He, Maria Chli, Hai Wang

Research output: Chapter in Book/Report/Conference proceedingConference contribution

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.
Original languageEnglish
Title of host publicationProceedings of the twenty-third International Joint Conference on Artificial Intelligence
PublisherAAAI
Pages234-240
Number of pages7
ISBN (Print)978-1-57735-633-2
Publication statusPublished - 2013
Event23rd International Joint Conference on Artificial Intelligence - Beijing, China
Duration: 3 Aug 20139 Aug 2013

Conference

Conference23rd International Joint Conference on Artificial Intelligence
Abbreviated titleIJCAI 2013
CountryChina
CityBeijing
Period3/08/139/08/13

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Talla Kuate, R., He, M., Chli, M., & Wang, H. (2013). An intelligent broker agent for energy trading: an MDP approach. In Proceedings of the twenty-third International Joint Conference on Artificial Intelligence (pp. 234-240). AAAI.