In this extended abstract we motivate and briefly describe a MABS (multi-agent based simulation) approach to the electricity market, aimed at simulating the interactions of agents and to study the macro-scale effects of those interactions. We describe our preliminary implementation of an artificial market, named TEMMAS (The Electricity Market Multi-Agent Simulator), populated with (virtual) age...

In many countries worldwide, investment in renewable technologies has been accelerated by the introduction of fixed feed-in tariffs for electricity from renewable energy sources (RES). While fixed tariffs accomplish this purpose, they lack incentives to align the RES production with price signals. Today, due to a growing proportion of renewable electricity, the intermittency of most RES increas...

The ever-increasing number of electric vehicles (EV) on the road promotes the idea of sustainable transportation by reducing CO2 emissions. This inherently means there is a growing need for charging stations as well. A potential solution to address the need for charging stations is to transform traditional parking lots into smart parking lots, in a sense that smart parking lots provide not only...

The integration of markets may improve efficiency by lowering costs or reducing local market power. India, seeking to reduce electricity shortages, recently set up a market for power trade, in which transmission constraints bind nearly half the time, limiting competition between regions and raising prices by forty percent. I use confidential data on bidding to estimate the costs of electricity ...

Conventional wisdom suggests that competitive wholesale electricity markets are not feasible in most developing countries. However, systematic analyses of the feasibility of wholesale competition in a specific developing country are rare. I model a potential wholesale electricity market in Maharashtra (MH) state, India in a Cournot framework to analyze the circumstances under which it could be ...

In the restructured electricity industry, electricity pooling markets are an oligopoly with strategic producers possessing private information (private production cost function). We focus on pooling markets where aggregate demand is represented by a non-strategic agent. Inelasticity of demand is a main difficulty in electricity markets which can potentially result in market failure and high pri...

Electricity market mechanisms designed to steer sustainable generation of electricity play an important role for the energy transition intended to mitigate climate change. One of the major problems is to complement volatile renewable energy sources by operationally flexible capacity reserves. In this paper a proposal is given to determine prices on electricity markets taking into account the op...

We appraise the theoretical basis and the consequent empirical work of Frank Wolak in his study of the New Zealand Electricity Market in a report to the New Zealand Commerce Commission released in March 2009. The report found no multilateral actions, but concluded there was evidence of unilateral market power. We find that the theoretical and empirical methodologies employed to reach this posit...

This paper develops new techniques to assess the expanse of the geographic market under varying supply and demand conditions and applies these techniques to the current wholesale electricity market in the western United States. This paper finds that, by and large, the expanse of the geographic market extends across most of the western United States, but that conditions which create congestion a...

Forward contracts play a vital role in all electricity markets, and yet the details of the market for forward contracts are often opaque. In this paper we review the existing literature on forward contracts and explore the contracting process as it operates in Australia. The paper is based on interviews with participants in Australia’s National Electricity Market. The interviews were designed t...