Modeling and simulation of an agent-based decentralized two-commodity power market

A market based approach is described to solve the resource allocation problem of two coupled commodities, namely electric energy and heating energy. Agents assigned to each household and each power plant carry out evaluations independently from each other to reduce data transmission volume and, hence, to improve real time performance. Simulation results are obtained that show high quality power load management, as well as efficient operation of the single power plants. The interpretation of the equilibrium price that is controlling resource allocation as the real actual energy price enables us to observe the model with regard to performance in resource allocation as well as with regard to real time pricing.