University of Oulu

F. Kühnlenz and P. H. J. Nardelli, "Agent-based model for spot and balancing electricity markets," 2017 IEEE International Conference on Communications Workshops (ICC Workshops), Paris, 2017, pp. 1123-1127. doi: 10.1109/ICCW.2017.7962809

Agent-based model for spot and balancing electricity markets

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Author: Kühnlenz, Florian1; Nardelli, Pedro H. J.1
Organizations: 1Centre for Wireless Communications (CWC) University of Oulu, Finland
Format: article
Version: accepted version
Access: open
Online Access: PDF Full Text (PDF, 0.5 MB)
Persistent link:
Language: English
Published: Institute of Electrical and Electronics Engineers, 2017
Publish Date: 2018-08-08


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.

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Series: IEEE International Conference on Communications
ISSN: 1550-3607
ISSN-E: 1938-1883
ISSN-L: 1550-3607
ISBN: 978-1-5090-1525-2
ISBN Print: 978-1-5090-1526-9
Pages: 1123 - 1127
DOI: 10.1109/ICCW.2017.7962809
Host publication: 2017 IEEE International Conference on Communications Workshops, ICC Workshops 2017; Paris; France; 21 May - 25 May 2017
Conference: IEEE International Conference on Communication
Type of Publication: A4 Article in conference proceedings
Field of Science: 113 Computer and information sciences
Funding: This work is partly funded by Finnish Academy (n. 271150) and CNPq/Brazil (n.490235/2012-3) as part of the joint project SUSTAIN, by Strategic Research Council/Aka BC-DC project (n.292854) and by the European Commission through the P2P-SmarTest project (n.646469).
EU Grant Number: (646469) P2P-SmarTest - Peer to Peer Smart Energy Distribution Networks (P2P-SmartTest)
Academy of Finland Grant Number: 271150
Detailed Information: 271150 (Academy of Finland Funding decision)
292854 (Academy of Finland Funding decision)
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