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Agent-based Model for Spot and Balancing Electricity Markets

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  • Florian Kuhnlenz
  • Pedro H. J. Nardelli

Abstract

We present a simple, yet realistic, agent-based model of an electricity market. The proposed model combines the spot and balancing markets with a resolution of one minute, which enables a more accurate depiction of the physical properties of the power grid. As a test, we compare the results obtained from our simulation to data from Nord Pool.

Suggested Citation

  • Florian Kuhnlenz & Pedro H. J. Nardelli, 2016. "Agent-based Model for Spot and Balancing Electricity Markets," Papers 1612.04512, arXiv.org.
    • Handle: RePEc:arx:papers:1612.04512
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    References listed on IDEAS

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