EPEX ontology: Enhancing agent-based electricity market simulation

Abstract

Electricity markets worldwide are complex and dynamic environments with very particular characteristics. The markets' restructuring and evolution into regional and continental scales, along with the constant changes brought by the increasing necessity for an adequate integration of renewable energy sources are the main drivers. Multi-agent based software is particularly well fitted to analyse dynamic and adaptive systems with complex interactions among its constituents, such as electricity markets. This paper proposes the use of ontologies to enable the exchange of information and knowledge, to test different market models and to allow market players from different systems to interact in common market environments. Focusing, namely, on the EPEX electricity market.