| | |
Summary: www.electricitypolicy.org.uk
EPRGWORKINGPAPER
Abstract
Evaluating Government's Policies on Promoting
Smart Metering in Retail Electricity Markets via
Agent Based Simulation
EPRG Working Paper 0822
Cambridge Working Paper in Economics 0842
Tao Zhang and William J. Nuttall
In this paper, we develop an agent-based model of a market game in
order to evaluate the effectiveness of the UK government's 2008-2010
policy on promoting smart metering. We also consider possible
supplementary strategies. With the model, we test the effectiveness of
four possible strategy options and suggest their policy implications. The
context of the paper is a practical application of agent-based simulation
to the retail electricity market in Britain. The contribution of the research
are both in the areas of policy making for electricity markets and in the
methodological use of agent-based simulation for studying social
complex systems involving human behaviour.
Keywords agent-based simulation, smart metering technology, the
|
