The main goal of MASCEM – Multi-Agent Simulator of Competitive Electricity Markets, is to give electricity market entities a tool to support their decisions and to obtain knowledge about market behaviour and evolution. Intelligent agents with strategic behaviour represent entities from electricity markets. In this paper we propose some illustrative scenarios to explain and take some conclusions...

This study reports experimental market power and efficiency outcomes for a computational wholesale electricity market operating in the short run under systematically varied concentration and capacity conditions. The pricing of electricity is determined by means of a clearinghouse double auction with discriminatory midpoint pricing. Buyers and sellers use a modified Roth–Erev individual reinforc...

Wind power forecasting is becoming an important tool in electricity markets as the amount of wind power rapidly increases. However, the use of wind power forecasting in market operations and among market participants is still at an early stage. We discuss the current use of wind power forecasting in U.S. ISO/RTO markets, and give recommendations for how to make efficient use of the information ...

Flexibility in power demand, diverse usage patterns and storage capability of plug-in electric vehicles (PEVs) grow the elasticity of residential electricity demand remarkably. This elasticity can be utilized to form the daily aggregated demand profile and/or alter instantaneous demand of a system wherein a large number of residential PEVs share one electricity retailer or an aggregator. In thi...

A stochastic programming approach is proposed in this paper for the development of offering strategies for a wind power producer. The optimization model is characterized by making the analysis of several scenarios and treating simultaneously two kinds of uncertainty: wind power and electricity market prices. The approach developed allows evaluating alternative production and offer strategies to...

Most US consumers are charged a near-constant retail price for electricity, despite substantial hourly variation in the wholesale market price. The Smart Grid is a set of emerging technologies that will facilitate "real-time pricing" for electricity and increase price elasticity of demand. This paper simulates the e¤ects of this increased demand elasticity using counterfactual simulations in a ...

This work has its interests in the relation between the generation mix within a power system and the elasticity of demand based on the prices emerging from the short term electricity market. The paper starts by describing a new agent-based modelling framework that involves electricity producers, consumers and suppliers as agents participating in a market environment. The framework allows for in...

a r t i c l e i n f o Keywords: Electricity market integration in Europe Market coupling Time-varying price convergence Fractional cointegration This study extends existing literature on the assessment of electricity market integration in Europe, by developing and testing hypotheses on the convergence of electricity wholesale prices, and adopting a time-varying fractional cointegration analysis...

Green tariffs” or “green pricing” have received considerable attention in the last few years in electricity marketing. The ongoing deregulation of electricity markets in most industrialized countries is likely to increase the importance of these marketing strategies even further. Very probably, this will lead to the emergence of new “green power products” and specialized enterprises offering th...