Agent-based model for spot and balancing electricity markets
Kühnlenz, Florian; Nardelli, Pedro H. J. (2017-07-03)
F. Kühnlenz and P. H. J. Nardelli, "Agent-based model for spot and balancing electricity markets," 2017 IEEE International Conference on Communications Workshops (ICC Workshops), Paris, 2017, pp. 1123-1127. doi: 10.1109/ICCW.2017.7962809
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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.
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