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The Strathprints institutional repository is a digital archive of University of Strathclyde's Open Access research outputs. Strathprints provides access to thousands of Open Access research papers by University of Strathclyde researchers, including by researchers from the Department of Computer & Information Sciences involved in mathematically structured programming, similarity and metric search, computer security, software systems, combinatronics and digital health.

The Department also includes the iSchool Research Group, which performs leading research into socio-technical phenomena and topics such as information retrieval and information seeking behaviour.

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Electricity market analysis with generation emission allowance constraints and trades using agent-based modeling

Zhao, Yu and Kockar, Ivana (2011) Electricity market analysis with generation emission allowance constraints and trades using agent-based modeling. In: Proceedings of 46th International Universities' Power Engineering Conference (UPEC). IEEE, pp. 1-6. ISBN 978-3-8007-3402-3

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Abstract

The main objective of the paper is to investigate how the individual participant behavior changes due to the Emissions Trading Scheme (ETS), as well as how the ETS affects the wholesale electricity market. Analysis carried out in the paper will help evaluate strategies that the generation company should employ to improve profits. In addition, the study aims to estimate how different levels of Emission Allowances (EAs) and methods to obtain these allowances (i.e., free allocations and auctions) will affect market operation. Here proposed methodology uses the agent-based model approach. This type of model simulation could help us study both the individual generation agent behavior and the overall picture of the electricity market operation. The proposed model is extended based on the AMES agent-base market simulation tool to introduce the emission constraints and trades.