Evaluating Government’s Policies on Promoting Smart Metering in Retail Electricity Markets via Agent Based Simulation

Tao Zhang and William Nuttall

Cambridge Working Papers in Economics from Faculty of Economics, University of Cambridge

Abstract: In this paper, we develop an agent-based model of a market game in order to evaluate the effectiveness of the UK government’s 2008-2010 policy on promoting smart metering. We also consider possible supplementary strategies. With the model, we test the effectiveness of four possible strategy options and suggest their policy implications. The context of the paper is a practical application of agent-based simulation to the retail electricity market in Britain. The contribution of the research are both in the areas of policy making for electricity markets and in the methodological use of agent-based simulation for studying social complex systems involving human behaviour.

Keywords: agent-based simulation; smart metering technology; the Theory of Planned Behaviour; retail electricity market (search for similar items in EconPapers)
JEL-codes: C63 C73 D78 O33 (search for similar items in EconPapers)
Date: 2008-08
New Economics Papers: this item is included in nep-cmp
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Citations: View citations in EconPapers (13)

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Working Paper: Evaluating Government's Policies on Promoting Smart Metering in Retail Electricity Markets via Agent Based Simulation (2008)
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