Evaluation of CO2 free electricity trading market in Japan by multi-agent simulations
AbstractAs of November 2008, a new market, the CO2 free electricity market, started pilot trading within the Japan Electric Power Exchange (JEPX). The electricity in this market comes from renewable resources, nuclear or fossil thermal power with CDM credits. The demanders of the CO2 free electricity are supposed to be the power companies with high emission rates. In this paper, we analyzed the effects of the new market by using a multi-agent based model to simulate the markets. From our simulation results, we found that the demander, under strict CO2 emission regulations, tends to buy more electricity from the new CO2 free market even though the price of this market is higher than that of the normal power exchange market. Suppliers with hydro or nuclear power plants only sell their electricity to the CO2 free market, and suppliers with coal power plants also enter this market (with CDM credits). The media and peak demands in the normal market are met mainly by electricity from LNG power plants. We also compared the results from the multi-agent approach with those from the least-cost planning approach and found that the results of the two methods were similar.
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Bibliographic InfoArticle provided by Elsevier in its journal Energy Policy.
Volume (Year): 38 (2010)
Issue (Month): 7 (July)
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Web page: http://www.elsevier.com/locate/enpol
CO2 free electricity market Multi-agent model Japan Electric Power Exchange;
Find related papers by JEL classification:
- CO2 - Mathematical and Quantitative Methods - - - - -
- fre - - - - - -
- ele - - - - - -
- mar - - - - - -
- Mul - Business Administration and Business Economics; Marketing; Accounting - - - - -
- mod - - - - - -
- Jap - Labor and Demographic Economics - - - - -
- Ele - Macroeconomics and Monetary Economics - - - - -
- Pow - Economic Systems - - - - -
- Exc - Macroeconomics and Monetary Economics - - - - -
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- John Foster & William Paul Bell & Craig Froome & Phil Wild & Liam Wagner & Deepak Sharma & Suwin Sandu & Suchi Misra & Ravindra Bagia, 2012. "Institutional adaptability to redress electricity infrastructure vulnerability due to climate change," Energy Economics and Management Group Working Papers 7-2012, School of Economics, University of Queensland, Australia.
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