An agent-based computational laboratory for testing the economic reliability of wholesale power market designs

D. Koesrinartoto, Junjie Sun and Leigh Tesfatsion ()

ISU General Staff Papers from Iowa State University, Department of Economics

Abstract: In April 2003 the U.S. Federal Energy Regulatory Commission proposed the wholesale power market platform (WPMP) for adoption by all U.S. wholesale power markets. The WPMP market design envisions day-ahead, real-time, and ancillary service markets maintained and operated by an independent system operator or regional transmission organization. Previous work reports on the development of an agent-based model for testing the economic reliability of the WPMP market design. This paper reports on the implementation of this model as an agent-based computational laboratory. Initial experiments focusing on optimal power flow solution methods for the day-ahead and real-time markets are also discussed.

Date: 2005-01-01
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Related works:
Working Paper: An Agent-Based Computational Laboratory for Testing the Economic Reliability of Wholesale Power Market Designs (2005)
Working Paper: An Agent-Based Computational Laboratory for Testing the Economic Reliability of Wholesale Power Market Designs (2005)
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