Towards a unified European electricity market: The contribution of data-mining to support realistic simulation studies

Tiago Pinto, Gabriel Santos, Ivo F. Pereira, Ricardo Fernandes, Tiago M. Sousa, Isabel Praça, Zita Vale, Hugo Morais

Research output: Chapter in Book/Report/Conference proceedingArticle in proceedingsResearchpeer-review

Abstract

Worldwide electricity markets have been evolving into regional and even continental scales. The aim at an efficient use of renewable based generation in places where it exceeds the local needs is one of the main reasons. A reference case of this evolution is the European Electricity Market, where countries are connected, and several regional markets were created, each one grouping several countries, and supporting transactions of huge amounts of electrical energy. The continuous transformations electricity markets have been experiencing over the years create the need to use simulation platforms to support operators, regulators, and involved players for understanding and dealing with this complex environment. This paper focuses on demonstrating the advantage that real electricity markets data has for the creation of realistic simulation scenarios, which allow the study of the impacts and implications that electricity markets transformations will bring to the participant countries. A case study using MASCEM (Multi-Agent System for Competitive Electricity Markets) is presented, with a scenario based on real data, simulating the European Electricity Market environment, and comparing its performance when using several different market mechanisms.
Original languageEnglish
Title of host publicationProceedings of 2014 IEEE PES General Meeting, Conference & Exposition
Number of pages5
PublisherIEEE
Publication date2014
Article number6939565
DOIs
Publication statusPublished - 2014
Event2014 IEEE PES General Meeting - National Harbor, Washington, United States
Duration: 27 Jul 201431 Jul 2014

Conference

Conference2014 IEEE PES General Meeting
LocationNational Harbor
CountryUnited States
CityWashington
Period27/07/201431/07/2014

Keywords

  • Data-Mining
  • Electricity Markets Simulation
  • Multi-Agent Systems
  • Scenarios Generation

Fingerprint Dive into the research topics of 'Towards a unified European electricity market: The contribution of data-mining to support realistic simulation studies'. Together they form a unique fingerprint.

Cite this