A Wholesale Power Trading Simulator With Learning Capabilities.

The U.S. wholesale power market comprises a large commodity market. The growth in power trading is due to the ongoing deregulation policy of the electric power industry. Most deregulation scenarios indicate a further separation of power production from transmission and retailing. The power production is opened to more competition. Unfortunately, the power trading mechanism is not clearly investigated in the level that we can predict a price change in the U.S. wholesale power market. Such a price change in the U.S. wholesale power market is explored from a simulation system with learning capabilities. Using the new intelligence system, we investigate the bidding strategies of traders in the wholesale power market and examine how the price change occurs under different economic and engineering environments. [ABSTRACT FROM AUTHOR]