Related papers: Long-term electricity market agent based model val…
The electricity market has a vital role to play in the decarbonisation of the energy system. However, the electricity market is made up of many different variables and data inputs. These variables and data inputs behave in sometimes…
Electricity systems are key to transforming today's society into a carbon-free economy. Long-term electricity market mechanisms, including auctions, support schemes, and other policy instruments, are critical in shaping the electricity…
Averting the effects of anthropogenic climate change requires a transition from fossil fuels to low-carbon technology. A way to achieve this is to decarbonize the electricity grid. However, further efforts must be made in other fields such…
In this paper, we develop an agent-based model which integrates four important elements, i.e. organisational energy management policies/regulations, energy management technologies, electric appliances and equipment, and human behaviour, to…
Due to the threat of climate change, a transition from a fossil-fuel based system to one based on zero-carbon is required. However, this is not as simple as instantaneously closing down all fossil fuel energy generation and replacing them…
Climate change is a major global challenge today. To assess how policies may lead to mitigation, economists have developed Integrated Assessment Models, however, most of the equilibrium based models have faced heavy critiques. Agent-based…
Agent-based modeling (ABM) has emerged as a powerful tool in social policy-making and socio-economics, offering a flexible and dynamic approach to understanding and simulating complex systems. While traditional analytic methods may be less…
Replacing traditional fossil fuel vehicles with innovative zero-emission vehicles for the transport in ci ties is one of the major tactics to achieve the UK government 2020 target of cutting emission. We are developing an agent-based…
The reproduction of realistic dynamics in financial markets is of great significance, as it enhances our understanding of market evolution beyond other physical processes, and facilitates the development and backtesting of investment…
The growing share of proactive actors in the electricity markets calls for more attention on prosumers and more support for their decision-making under decentralized electricity markets. In view of the changing paradigm, it is crucial to…
Agent-based modeling is a powerful simulation technique to understand the collective behavior and microscopic interaction in complex financial systems. Recently, the concept for determining the key parameters of the agent-based models from…
Transitioning to sustainable and resilient energy systems requires navigating complex and interdependent trade-offs across environmental, social, and resource dimensions. Neglecting these trade-offs can lead to unintended consequences…
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…
As zero-emission zones emerge in European cities, fleet operators are shifting to electric vehicles. To maintain their current operations, a clear understanding of the charging infrastructure required and its relationship to existing power…
Simulating long-term hydrothermal bid-based markets considering strategic agents is a challenging task. The representation of strategic agents considering intertemporal constraints within a stochastic framework brings additional complexity…
This paper proposes an agent-based model that combines both spot and balancing electricity markets. From this model, we develop a multi-agent simulation to study the integration of the consumers' flexibility into the system. Our study…
The ATLAS model simulates the various stages of the electricity market chain in Europe, including the formulation of offers by different market actors, the coupling of European markets, strategic optimization of production portfolios and,…
This paper introduces a novel, open-source MARL simulation framework for studying implicit cooperation in LEMs, modeled as a decentralized partially observable Markov decision process and implemented as a Gymnasium environment for MARL. Our…
The increasing vulnerability of electrical distribution systems to extreme weather events and cyber threats necessitates the development of economically viable frameworks for resilience enhancement. While existing approaches focus primarily…
Over the past years, distributed energy resources (DER) have been the object of many studies, which recognise and establish their emerging role in the future of power systems. However, the implementation of many scenarios and mechanism are…