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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.
| Original language | English |
|---|---|
| Title of host publication | Proceedings of 46th International Universities' Power Engineering Conference (UPEC) |
| Publisher | IEEE |
| Pages | 1-6 |
| Number of pages | 6 |
| ISBN (Print) | 978-3-8007-3402-3 |
| Publication status | Published - Sept 2011 |
Keywords
- agent-based modeling
- generation emission allowance
- emissions
- electricity market
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Dive into the research topics of 'Electricity market analysis with generation emission allowance constraints and trades using agent-based modeling'. Together they form a unique fingerprint.Projects
- 1 Finished
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HiDEF. Supergen 3 HDPS Renewal Core and Pluses
Infield, D. (Principal Investigator), Ault, G. (Co-investigator), Bell, K. (Co-investigator), Burt, G. (Co-investigator), Finney, S. (Co-investigator), Fletcher, J. (Co-investigator), Johnstone, C. (Co-investigator), Kelly, N. (Co-investigator), Kockar, I. (Co-investigator), McGregor, P. (Co-investigator) & Williams, B. (Co-investigator)
EPSRC (Engineering and Physical Sciences Research Council)
1/07/09 → 30/09/13
Project: Research