Multi-agent simulations of the electricity market in central Europe.
Researchers use agent-based modeling and simulation (ABMS) and applications in electricity markets in Central Europe. They look at production cost, impact of CO{sub 2} emission allowances, strategic bidding in Germany and demand response. Advantages of using ABMS for market power analysis are more realistic market behavior than equilibrium models and detailed representation of physical system and market rules. Some challenges with ABMS are complex process to analyze results which makes it often necessary to run a high number of simulations and it is difficult to draw general conclusions. The case study looked at CO{sub 2} scheme that increases price and GenCo profits and reduces CO{sub 2} emissions. Price responsive demand an important countermeasure to market power.
- Research Organization:
- Argonne National Laboratory (ANL)
- Sponsoring Organization:
- USDOE
- DOE Contract Number:
- AC02-06CH11357
- OSTI ID:
- 982324
- Report Number(s):
- ANL/DIS/CP-119046
- Country of Publication:
- United States
- Language:
- ENGLISH
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