Optimization of Micro-Grid Electricity Market Based on Multi Agent Modeling Approach

Literature Review

Two novel issues are discussed in the current study include presenting a simulation model by MAS approach besides introducing a new optimization model based on random search methods. An ideal simulation tool can provide useful information for legislators, decision-makers of the electricity market, and market players. This will lead to develop and improve the overall structure of the electricity market. Thus, many recent researches are conducted in electricity industry restructuring as well as electricity financial markets in order to achieve the simulation tools in the electricity markets (Adom, 2017; Gal, Milstein, Tishler, & Woo, 2017; Sharifi, Fathi, & Vahidinasab, 2017; Shokri et al., 2017; Yousefi, MakhdoomiKaviri, Latify, & Rahmati, 2017; Xavier, Goncalves, Dias, & Borba, 2017; Vinagre, et al., 2017). In this way, simulating the market environment and predicting the behavior of participants in various electrical markets will be useful and effective to select the suitable model and appropriate structure for legislators and decision makers in the electricity markets.