Analyzing Interrelated Markets in the Electricity Sector - The Case of Wholesale Power Trading in Germany


Weidlich, Anke ; Veit, Daniel J.



URL: http://ieeexplore.ieee.org/stamp/stamp.jsp?tp=&arn...
Document Type: Conference or workshop publication
Year of publication: 2008
Book title: Conversion and delivery of electrical energy in the 21st century : 2008 IEEE Power and Energy Society general meeting
Page range: 1-8
Conference title: 2008 IEEE Power and Energy Society General Meeting
Location of the conference venue: Pittsburgh, Pa.
Date of the conference: 20-24 July, 2008
Place of publication: Piscataway, NJ [u.a.]
Publishing house: IEEE
ISBN: 978-1-4244-1905-0
ISSN: 1932-5517
Publication language: English
Institution: Business School > Dieter-Schwarz-Stiftungslehrstuhl für ABWL, E-Business u. E-Government (Veit -2013)
Subject: 330 Economics
Keywords (English): Analytical models
Abstract: This paper reports on results from an agent-based simulation model that comprises three interrelated markets in the electricity sector: a day-ahead electricity market, a market for balancing power, and a carbon exchange for CO2 emission allowances. Agents seek to optimize trading strategies over the two electricity markets through reinforcement learning; they also integrate market results from emissions trading into their reasoning. Simulation outcomes show that the model is able to closely reproduce observed prices at the German power markets for the analysis period of 2006. The model is thus applicable for analyzing different market designs in order to derive evidence for policy advice; one example for such an analysis is given in this contribution.

Dieser Eintrag ist Teil der Universitätsbibliographie.




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Weidlich, Anke ; Veit, Daniel J. Analyzing Interrelated Markets in the Electricity Sector - The Case of Wholesale Power Trading in Germany. 1-8 In: Conversion and delivery of electrical energy in the 21st century : 2008 IEEE Power and Energy Society general meeting (2008) Piscataway, NJ [u.a.] 2008 IEEE Power and Energy Society General Meeting (Pittsburgh, Pa.) [Conference or workshop publication]


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