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Published in:
2011 | OriginalPaper | Chapter
Hierarchically Structured Energy Markets as Novel Smart Grid Control Approach
Authors : Jörg Lässig, Benjamin Satzger, Oliver Kramer
Published in: KI 2011: Advances in Artificial Intelligence
Publisher: Springer Berlin Heidelberg
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The paper investigates the self-stabilization of hierarchically structured markets. We propose a new approach that is motivated by the physical structure of the energy grid and generalizes classical market structures in a natural way. Hierarchical markets have several advantages compared to monolithic markets, i.e., improved reliability and scalability, locality of information, and proximity of energy production and consumption. By simulating scenarios based on real world consumption and production data including households, different renewable energy sources, and other plant types, we present a proof-of-concept of stability of the hierarchical markets in various simulations.