Work

Agent-based Model for Spot and Balancing Electricity Markets

Year: 2016

Type: preprint

Abstract: We present a simple, yet realistic, agent-based model of an electricity market. The proposed model combines the spot and balancing markets with a resolution of one minute, which enables a more accurate depiction of the physical properties of the power grid. As a test, we compare the results obtained from our simulation to data from Nord Pool.

Source: arXiv (Cornell University)

DOI: 10.48550/arxiv.1612.04512

Authors: Kühnlenz, Florian, Nardelli, Pedro H. J.

Institution: University of Oulu

Language: English

Topic: Electric Power System Optimization

Subfield: Electrical and Electronic Engineering

Field: Engineering

Domain: Physical Sciences

SDG: Affordable and clean energy

Open Access status: green

Funders: European Commission, Conselho Nacional de Desenvolvimento Científico e Tecnológico, Strategic Research Council