Electricity Market Analysis with Generation Emission Allowance Constraints and Trades using Agent-Based Modeling
Konferenz: UPEC 2011 - 46th International Universities' Power Engineering Conference
05.09.2011 - 08.09.2011 in Soest, Germany
Tagungsband: UPEC 2011
Seiten: 6Sprache: EnglischTyp: PDFPersönliche VDE-Mitglieder erhalten auf diesen Artikel 10% Rabatt
Zhao, Yu; Kockar, Ivana (University of Strathclyde, UK)
The main objective of the paper is to investigate how the individual participant behavior changes due to the Emissions Trading Scheme (ETS), as well as how the ETS affects the wholesale electricity market. Analysis carried out in the paper will help evaluate strategies that the generation company should employ to improve profits. In addition, the study aims to estimate how different levels of Emission Allowances (EAs) and methods to obtain these allowances (i.e., free allocations and auctions) will affect market operation. Here proposed methodology uses the agent-based model approach. This type of model simulation could help us study both the individual generation agent behavior and the overall picture of the electricity market operation. The proposed model is extended based on the AMES agent-base market simulation tool to introduce the emission constraints and trades.