Multi-agent system for short and long-term power market simulations.
- Decision and Information Sciences
In this paper we give an overview of the Electricity Market Complex Adaptive System (EMCAS) model. EMCAS uses the agent-based modeling and simulation (ABMS) technique to model the market participants in electricity markets as different agents with different strategies, risk preferences, and objectives. The complex operations of an electricity market can be simulated across several time horizons from day-ahead scheduling to long-term expansion planning. The methodology used in the model is discussed and a central European case is utilized to illustrate how EMCAS can be used to analyze a power system's operation under various assumptions. The results show the effectiveness of the model, and how the ABMS approach allows the testing of different market conditions.
- Research Organization:
- Argonne National Lab. (ANL), Argonne, IL (United States)
- Sponsoring Organization:
- USDOE Office of Science (SC)
- DOE Contract Number:
- DE-AC02-06CH11357
- OSTI ID:
- 1015925
- Report Number(s):
- ANL/DIS/CP-61352; TRN: US201112%%64
- Resource Relation:
- Conference: 16th Power Systems Computation Conference (PSCC2008); Jul. 14, 2008 - Jul. 18, 2008; Glasgow, Scotland
- Country of Publication:
- United States
- Language:
- ENGLISH
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