Simulation tools for electricity markets considering power flow analysis

Bruno Veiga, Gabriel Santos, Tiago Pinto, Ricardo Faia, Carlos Ramos and Zita Vale

Energy, 2023, vol. 275, issue C

Abstract: The share of renewable generation is growing worldwide, increasing the complexity of the grids operation to maintain its stability and balance. This leads to an increased need for designing new electricity markets (EMs) suited to this new reality. Simulation tools are widely used to experiment and analyze the potential impacts of new solutions, such as novel EM designs and power flow analysis and validation. This work introduces two web services for EMs’ simulation and study, in addition to power flow evaluation and validation, namely the Electricity Market Service (EMS) and Power Flow Service (PFS). EMS enables the simulation of two auction-based algorithms and the execution of three wholesale EMs. PFS creates and evaluates electrical grids from the transmission to distribution grids. Being published as web services facilitates their integration with other services, systems, or software agents. Combining them allows for the simulation of EMs from wholesale to local markets and testing if the results are compatible with a specific grid. This article presents a detailed description of each service and a case study of an electricity trading community participating in the MIBEL day-ahead market through an aggregator to reduce their energy bills. The results demonstrate the accuracy and usefulness of the proposed services.

Keywords: Electricity markets; Power flow analysis; Simulation; Web-services (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0360544223008885
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:275:y:2023:i:c:s0360544223008885

DOI: 10.1016/j.energy.2023.127494

Access Statistics for this article

Energy is currently edited by Henrik Lund and Mark J. Kaiser

More articles in Energy from Elsevier
Bibliographic data for series maintained by Catherine Liu ().