New entry in the Power TAC wholesale market

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New entry in the Power TAC wholesale market

grampajohn
Administrator
Dear colleagues -

I recently completed implementation of a new entity for the wholesale market, in order to satisfy Issue #878. This is a buyer agent that sucks up roughly 10 time the quantity needed by the entire Power TAC scenario. In order to accommodate this additional demand, I have re-configured the CpGenco module to multiple the x-axis of the price curve by a factor of about 11. The result is that Power TAC agents will no longer see the entire price curve, but only a marginal portion of it. Which portion depends on the demand required by the new MisoBuyer module, which is generated from a weather-dependent timeseries modeled on two years of actual demand in the north-central region of the MISO wholesale market in North America.

Part of the motivation for this change is to make the wholesale market more realistic, especially the market power that can be exercised by retailers in a single city. It is now very unlikely to be rewarding for an agent to attempt to corner the market, because of the large quantities one would have to procure in order to move the price significantly. As a result, I have backed off on the market-position limits we imposed last year in an attempt to limit market power.

I have not yet deployed this change, but the source is updated. My hope is that one or two of you would pull down the latest source, test it out, and let us know what you think. I anticipate we'll want to make some adjustments before finalizing the parameters for the 2017 tournaments. If I do not hear of problems for perhaps two weeks, I will deploy this version so anyone using the SNAPSHOT version will see it.

Thanks in advance for your feedback.

John
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