New actor types in electricity market simulation models: Deliverable D4.4

Abstract

Project TradeRES - New Markets Design & Models for 100% Renewable Power Systems: https://traderes.eu/about/ABSTRACT: The modelling of agents in the simulation models and tools is of primary importance if the quality and the validity of the simulation outcomes are at stake. This is the first version of the report that deals with the representation of electricity market actors’ in the agent based models (ABMs) used in TradeRES project. With the AMIRIS, the EMLab-Generation (EMLab), the MASCEM and the RESTrade models being in the centre of the analysis, the subject matter of this report has been the identification of the actors’ characteristics that are already covered by the initial (with respect to the project) version of the models and the presentation of the foreseen modelling enhancements. For serving these goals, agent attributes and representation methods, as found in the literature of agent-driven models, are considered initially. The detailed review of such aspects offers the necessary background and supports the formation of a context that facilitates the mapping of actors’ characteristics to agent modelling approaches. Emphasis is given in several approaches and technics found in the literature for the development of a broader environment, on which part of the later analysis is deployed. Although the ABMs that are used in the project constitute an important part of the literature, they have not been included in the review since they are the subject of another section.N/