Investigating effects of changes in power market regulations on demand-side resources aggregators

A significant role of power market regulator is increasing market efficiency by considering constraints of power system. Thus, a power market regulator implements several regulations to achieve this target. However, the changes in regulations may have undesirable effects on some emerging market players. In this study, effects of changes in spinning reserve market regulations on behavior of demand-side resources aggregators such as responsive loads aggregator and plug-in electric vehicles aggregator are investigated. In this study, a hybrid method based on multi-agents and dynamic game theory considering supply function equilibrium model for bidding strategy is proposed to simulate behavior of the market players from regulator's point of view. The results demonstrate that smart aggregators can convert threats to opportunities and enhance their own profit, their customers' income and even the market efficiency.