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Studying the effects of CO2 emissions trading on the electricity market: A multi-agent-based approach

In: Emissions Trading

Author

Listed:
  • Anke Weidlich

    (University of Mannheim Chair of Business Administration and Information Systems E-Business and E-Governnent)

  • Frank Sensfuß

    (Fraunhofer Institute for Systems and Innovation Research Breslauer)

  • Massimo Genoese

    (University of Karlsruhe (TH) Institute for Industrial Production)

  • Daniel Veit

    (University of Mannheim Chair of Business Administration and Information Systems E-Business and E-Governnent)

Abstract

In this paper, we present a basic approach for modeling electricity and emissions markets under the paradigm of agent-based computational economics (ACE). Different market players will be modeled as independent entities using autonomous software agents; they operate and communicate independently on power markets and on markets for emission allowances. The agent types involved and their relationships are described. The aim of the model is to investigate the interplay between the market players, with a focus lying on the dynamics in a market for CO2 emission allowances and its effects on the electricity markets. Simulations with this model will enable us to draw conclusions about the economic performance of different possible emissions trading design options

Suggested Citation

  • Anke Weidlich & Frank Sensfuß & Massimo Genoese & Daniel Veit, 2008. "Studying the effects of CO2 emissions trading on the electricity market: A multi-agent-based approach," Springer Books, in: Ralf Antes & Bernd Hansjürgens & Peter Letmathe (ed.), Emissions Trading, pages 91-101, Springer.
    • Handle: RePEc:spr:sprchp:978-0-387-73653-2_6
    DOI: 10.1007/978-0-387-73653-2_6
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    Citations

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    Cited by:

    1. João Soares & Tiago Pinto & Fernando Lezama & Hugo Morais, 2018. "Survey on Complex Optimization and Simulation for the New Power Systems Paradigm," Complexity, Hindawi, vol. 2018, pages 1-32, August.
    2. Heo, Deung-Yong Yong, 2015. "Studies on electric power markets: preparing for the penetration of renewable resources," ISU General Staff Papers 201501010800005377, Iowa State University, Department of Economics.
    3. Georg Holtz & Christian Schnülle & Malcolm Yadack & Jonas Friege & Thorben Jensen & Pablo Thier & Peter Viebahn & Émile J. L. Chappin, 2020. "Using Agent-Based Models to Generate Transformation Knowledge for the German Energiewende—Potentials and Challenges Derived from Four Case Studies," Energies, MDPI, vol. 13(22), pages 1-26, November.

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