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.
@article{arxiv.1612.04512,
title = {Agent-based Model for Spot and Balancing Electricity Markets},
author = {Florian Kühnlenz and Pedro H. J. Nardelli},
journal= {arXiv preprint arXiv:1612.04512},
year = {2016}
}