Simulating the Dynamics in Two-Settlement Electricity Markets via an Agent-Based Approach


Veit, Daniel J. ; Weidlich, Anke ; Yao, Jian ; Oren, Shmuel



Document Type: Article
Year of publication: 2006
The title of a journal, publication series: International Journal of Management Science and Engineering Management
Volume: 1
Issue number: 2
Page range: 83-97
Place of publication: Liverpool
Publishing house: World Acad. Union
ISSN: 1750-9653, 1750-9661
Publication language: English
Institution: Business School > Dieter-Schwarz-Stiftungslehrstuhl für ABWL, E-Business u. E-Government (Veit -2013)
Subject: 330 Economics
Abstract: This paper studies the dynamics in two-settlement electricity markets. In these markets, energy producers sign strategic forward contracts in the forward market, and engage in spatial oligopolistic competition in the spot market. We develop an agent-based model for simulating the outcomes of such markets. Numerical simulations imply that the access to the forward market leads to more competitive behaviors of the suppliers in the spot market, and thus to lower spot energy prices.

Dieser Eintrag ist Teil der Universitätsbibliographie.




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Veit, Daniel J. ; Weidlich, Anke ; Yao, Jian ; Oren, Shmuel (2006) Simulating the Dynamics in Two-Settlement Electricity Markets via an Agent-Based Approach. International Journal of Management Science and Engineering Management Liverpool 1 2 83-97 [Article]


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