Strategic Behaviour in Power Wholesale Electricity Markets: Design, Implementation & Validation of an Agent-based Simulation Platform (Strategisch gedrag binnen de elektriciteitsmarkt: ontwerp, implementatie & validatie van een agent-gebaseerde ma KU Leuven
Liberalising the European electricity industry did not naturally produce its intended results. Network constraints, few dominant sellers in a relatively small market, complex market designs, price-inelastic consumers, reductions in generation capacity, unavailability of perfect information provided in real-time, and portfolio economics and technical characteristics induced the observed strategic gaming behaviour of generators.In order to ...