Autonomous Power Trading Approaches of a Winner Broker

The future smart grid will bring new actors such as local producers, storage capacities and interruptible consumers to the existing electricity grid along with the challenge of sustainability. Intermediary power actors, i.e., brokers, will take the burden of financial management, during the integration of these customers. This paper describes the mathematical modelling, formalization and the design of decision making systems of a winner broker agent, AgentUDE14, which competed in Power Trading Agent Competition 2014 Final (Power TAC). In this work, we divide the main trading problem into sub problems and then formalize and solve them individually to reduce the mathematical complexity. In the wholesale market, we propose a dynamic programming approach whereas our retailer algorithm uses an aggressive tariff publication policy, which exploits tariff fees, such as early withdrawal penalty and bonus payment. We show the results that AgentUDE14 is a successful agent in many metrics, analyzing the tournament data from Power TAC 2014 Finals.