IDEAS home Printed from https://ideas.repec.org/a/ovi/oviste/vxixy2019i2p334-344.html
   My bibliography  Save this article

Design Functionalities for A Wholesale Electricity Market Simulator

Author

Listed:
  • Simona Vasilica Oprea

    (The Bucharest University of Economic Studies)

  • Ramona Ana Bologa

    (The Bucharest University of Economic Studies)

  • Anca Ioana Andreescu

    (The Bucharest University of Economic Studies)

Abstract

One of the most important and well-known characteristics of the electricity is the necessity to balance almost perfectly the load with generation for each moment of the power system operation. This characteristic, coming from the very beginnings of the power systems design and building, has shaped the operational rules of the power systems and more recently has also shaped the electricity markets structure. The basic parameter used for designing various electricity markets is time. Also, the recent developments of renewable energy lead to a higher complexity of the power systems operation and as a direct consequence a higher complexity of the electricity market structure. Hence, nowadays, it is very difficult for a generation owner to optimize the operation of his asset from all points of view: technical, financial, etc. The main objective of this paper is to develop an electricity market simulator that includes the basics of a good practice guide starting from the use cases for generators or producers that compete on different electricity markets in order to maximize their financial results and efficiency. Thus, this paper mainly proposes to uncover the functionalities a simulator should have to assist market players to access different electricity markets.

Suggested Citation

  • Simona Vasilica Oprea & Ramona Ana Bologa & Anca Ioana Andreescu, 2019. "Design Functionalities for A Wholesale Electricity Market Simulator," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 334-344, December.
    • Handle: RePEc:ovi:oviste:v:xix:y:2019:i:2:p:334-344
    as

    Download full text from publisher

    File URL: http://stec.univ-ovidius.ro/html/anale/RO/wp-content/uploads/2020/02/Section%20III/23.pdf
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Preotescu Dan & Oprea Simona-Vasilica & Bara Adela & Bologa Ana Ramona & Preda Ștefan & Tor Osman Bulent, 2020. "Main Risks and Mitigation Measures on the Current Structure of Electricity Market," Risk in Contemporary Economy, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, pages 5-12.

    More about this item

    Keywords

    whole electricity market; simulator; functional model; functionalities; use case diagram;
    All these keywords.

    JEL classification:

    • Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices
    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
    • P47 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Performance and Prospects

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ovi:oviste:v:xix:y:2019:i:2:p:334-344. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Gheorghiu Gabriela (email available below). General contact details of provider: https://edirc.repec.org/data/feoviro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.