Proceedings ArticleDOI
Modeling hydro power plants in deregulated electricity markets: Integration and application of EMCAS and VALORAGUA
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In this paper, an agent-based model, Electricity Market Complex Adaptive System (EMCAS) with a hydro-thermal coordination model, VALORAGUA, is presented.Abstract:
In this paper, we present details of integrating an agent-based model, Electricity Market Complex Adaptive System (EMCAS) with a hydro-thermal coordination model, VALORAGUA. EMCAS provides a framework for simulating deregulated markets with flexible regulatory structure along with bidding strategies for supply offers and demand bids. VALORAGUA provides longer-term operation plans by optimizing hydro and thermal power plant operation for the entire year. In addition, EMCAS uses the price forecasts and weekly hydro schedules from VALORAGUA to provide intra-week hydro plant optimization for hourly supply offers. The integrated model is then applied to the Iberian electricity market which includes about 111 thermal plants and 38 hydro power plants. We then analyze the impact of hydro plant supply offers on the market prices and ways to minimize the Gencospsila exposure to price risk.read more
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Journal ArticleDOI
A review of computer tools for analysing the integration of renewable energy into various energy systems
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Capturing socio-technical systems with agent-based modelling
TL;DR: A generic agent-based modelling framework for socio-technical systems is developed and is shown to offer valuable decision support in case studies of an oil refinery supply chain and an intermodal freight hub.
Journal ArticleDOI
Survey on Complex Optimization and Simulation for the New Power Systems Paradigm
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Dissertation
The integration of fluctuating renewable energy using energy storage
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Proceedings ArticleDOI
Simulation of the operation of hydro plants in an electricity market using agent-based models
TL;DR: In this article, an agent-based model for an electricity market considering a detailed modeling for hydro stations is presented, and some preliminary results taking the Iberian Electricity Market as an example.
References
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Journal ArticleDOI
Real-world market representation with agents
TL;DR: The ABMS approach is uniquely suited to addressing the strategic issues of interest to different market participants as well as those of market monitors and regulators.
ReportDOI
Evaluating the potential impact of transmission constraints on the operation of a competitive electricity market in Illinois.
Richard R. Cirillo,P. Thimmapuram,Thomas D. Veselka,V. Koritarov,Guenter Conzelmann,Charles M. Macal,Gale A. Boyd,Michael North,Thomas J. Overbye,X. Cheng,Decision +10 more
TL;DR: In this article, the authors present an initial determination if the transmission system in Illinois and the surrounding region would be able to support a competitive electricity market, would allow effective competition to keep prices in check, and would allow for new market participants to effectively compete for market share.
Multi-agent simulations of the electricity market in central Europe.
TL;DR: In this paper, the authors used agent-based modeling and simulation (ABMS) and applied it in electricity markets in Central Europe, where they looked at production cost, impact of CO-sub 2 emission allowances, strategic bidding in Germany and demand response.