Agent-based models in power systems-a literature review

Abstract

In the last two decades, power systems have experienced several changes, mainly related to organizational and operational restructuring. The appearance of new actors contributes to developing new business models and modifies its traditional operation activities. As a direct result, there is a need for new control solutions and strategies to integrate these different players. Agent-Based Models (ABM) have been increasingly used to model complex systems since they are especially suited to model systems influenced by social interactions between flexible, autonomous, and proactive agents. This paper provides a review of the literature regarding ABM in power systems followed by an analysis in more detail regarding specific applications that are becoming relevant in this new paradigm.