Electric Power Markets in Transition: Agent-Based Modeling Tools for Transactive Energy Support

2018 ◽  
pp. 715-766 ◽  
Author(s):  
Leigh Tesfatsion
Keyword(s):  
Electric Power ◽  
Agent Based Modeling ◽  
Power Markets ◽  
Modeling Tools ◽  
Agent Based ◽  
Electric Power Markets ◽  
Transactive Energy

Agent-based modeling of electric power markets

2014 ◽  
Author(s):  
Charles Macal ◽  
Prakash Thimmapuram ◽  
Vladimir Koritarov ◽  
Guenter Conzelmann ◽  
Thomas Veselka ◽  
...  
Keyword(s):  
Electric Power ◽  
Agent Based Modeling ◽  
Power Markets ◽  
Agent Based ◽  
Electric Power Markets

scholarly journals Alternative Auction Institutions for Electric Power Markets

1998 ◽  
Vol 27 (2) ◽  
pp. 125-131 ◽  
Author(s):  
John C. Bernard ◽  
Timothy Mount ◽  
William Schulze
Keyword(s):  
United States ◽  
Electric Power ◽  
The United States ◽  
Power Markets ◽  
Wholesale Market ◽  
Short Term ◽  
Uniform Price Auction ◽  
Uniform Price ◽  
Electric Power Markets ◽  
Price Auction

Restructuring of electric power markets is proceeding across the United States and in many other nations around the world. The performance of these markets will influence everything from the prices faced by consumers to the reliability of the systems. The challenges of these changes present many important areas for research. For much of the northeastern United States, restructuring proposals include, at least for the short term, the formation of a single-sided auction mechanism for the wholesale market. This research uses experimental methods to analyze how these markets may function. In the experiments, the two basic uniform price auction rules are tested under three different market sizes. Early experimental results suggest the commonly proposed last-accepted-offer auction works well, but market power could be a real concern.

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