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Title: Electricity Market Games: How Agent-Based Modeling Can Help under High Penetrations of Variable Generation

Integrating increasingly high levels of variable generation in U.S. electricity markets requires addressing not only power system and grid modeling challenges but also an understanding of how market participants react and adapt to them. Key elements of current and future wholesale power markets can be modeled using an agent-based approach, which may prove to be a useful paradigm for researchers studying and planning for power systems of the future.
Publication Date:
OSTI Identifier:
Report Number(s):
Journal ID: empty
DOE Contract Number:
Resource Type:
Journal Article
Resource Relation:
Journal Name: Electricity Journal; Journal Volume: 29; Journal Issue: 2; Related Information: Electricity Journal
Research Org:
NREL (National Renewable Energy Laboratory (NREL), Golden, CO (United States))
Sponsoring Org:
NREL Laboratory Directed Research and Development (LDRD); Director's Postdoctoral Fellowship
Country of Publication:
United States
24 POWER TRANSMISSION AND DISTRIBUTION; 29 ENERGY PLANNING, POLICY, AND ECONOMY electricity market design; agent-based modeling; variable generation; uplift payments; missing money problem; revenue sufficiency