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Title: Multi-agent electricity market modeling with EMCAS.

Abstract

Electricity systems are a central component of modern economies. Many electricity markets are transitioning from centrally regulated systems to decentralized markets. Furthermore, several electricity markets that have recently undergone this transition have exhibited extremely unsatisfactory results, most notably in California. These high stakes transformations require the introduction of largely untested regulatory structures. Suitable tools that can be used to test these regulatory structures before they are applied to real systems are required. Multi-agent models can provide such tools. To better understand the requirements such as tool, a live electricity market simulation was created. This experience helped to shape the development of the multi-agent Electricity Market Complex Adaptive Systems (EMCAS) model. To explore EMCAS' potential, several variations of the live simulation were created. These variations probed the possible effects of changing power plant outages and price setting rules on electricity market prices.

Authors:
; ; ; ; ;
Publication Date:
Research Org.:
Argonne National Lab., IL (US)
Sponsoring Org.:
US Department of Energy (US)
OSTI Identifier:
801575
Report Number(s):
ANL/DIS/CP-108599
TRN: US200223%%176
DOE Contract Number:  
W-31-109-ENG-38
Resource Type:
Conference
Resource Relation:
Conference: Computational Analysis of Social and Organizational Science Conference, Pittsburgh, PA (US), 06/21/2002--06/23/2002; Other Information: PBD: 5 Sep 2002
Country of Publication:
United States
Language:
English
Subject:
29 ENERGY PLANNING, POLICY AND ECONOMY; CALIFORNIA; MARKET; PRICES; COMPUTERIZED SIMULATION; ELECTRIC POWER INDUSTRY; DEREGULATION; E CODES; PRICING REGULATIONS; OUTAGES

Citation Formats

North, M, Macal, C, Conzelmann, G, Koritarov, V, Thimmapuram, P, and Veselka, T. Multi-agent electricity market modeling with EMCAS.. United States: N. p., 2002. Web.
North, M, Macal, C, Conzelmann, G, Koritarov, V, Thimmapuram, P, & Veselka, T. Multi-agent electricity market modeling with EMCAS.. United States.
North, M, Macal, C, Conzelmann, G, Koritarov, V, Thimmapuram, P, and Veselka, T. Thu . "Multi-agent electricity market modeling with EMCAS.". United States. https://www.osti.gov/servlets/purl/801575.
@article{osti_801575,
title = {Multi-agent electricity market modeling with EMCAS.},
author = {North, M and Macal, C and Conzelmann, G and Koritarov, V and Thimmapuram, P and Veselka, T},
abstractNote = {Electricity systems are a central component of modern economies. Many electricity markets are transitioning from centrally regulated systems to decentralized markets. Furthermore, several electricity markets that have recently undergone this transition have exhibited extremely unsatisfactory results, most notably in California. These high stakes transformations require the introduction of largely untested regulatory structures. Suitable tools that can be used to test these regulatory structures before they are applied to real systems are required. Multi-agent models can provide such tools. To better understand the requirements such as tool, a live electricity market simulation was created. This experience helped to shape the development of the multi-agent Electricity Market Complex Adaptive Systems (EMCAS) model. To explore EMCAS' potential, several variations of the live simulation were created. These variations probed the possible effects of changing power plant outages and price setting rules on electricity market prices.},
doi = {},
journal = {},
number = ,
volume = ,
place = {United States},
year = {Thu Sep 05 00:00:00 EDT 2002},
month = {Thu Sep 05 00:00:00 EDT 2002}
}

Conference:
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