A model-based analysis of strategic consolidation in the German electricity industry

Bower, John

doi:10.1016/s0140-6701(02)86315-9

Cited by 29 publications

(21 citation statements)

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“…In einer frühen Arbeit befassen sich Bower et al (2001) mit der Liberalisierung des deutschen Strommarktes, die anfänglich erwartungsgemäß zu einer massiven Senkung der Großhandelspreise geführt hat. Im Anschluss stiegen die Preise im Zuge einer Konsolidierungswelle unter den Versorgern aber wieder deutlich.…”

Section: Energieunclassified

Agentenbasierte Simulation zur Analyse und Lösung betriebswirtschaftlicher Entscheidungsprobleme

Deckert

Klein

2010

J Betriebswirtsch

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ZusammenfassungIn komplexen ökonomischen Systemen ergeben sich oft Fragestellungen bzw. Entscheidungsprobleme, die mit klassischen Analyse-und Optimierungstechniken nur schwer adressierbar sind. Märkte, auf denen Akteure mit heterogenen Zielsetzungen dynamisch interagieren, oder Unternehmen, in denen vielschichtige Prozesse ineinandergreifen, sind typische Beispiele für solche Systeme in unserer global vernetzten Wirtschaft. In den letzten Jahren hat mit der agentenbasierten Simulation (ABS) eine Technik zunehmende Verbreitung gefunden, die hilft, solche Systeme zu simulieren und inhärente Wirkungszusammenhänge besser zu erfassen. Im vorliegenden Beitrag stellen wir die Möglichkeiten der ABS insbesondere zur Analyse und Lösung betriebswirtschaftlicher Problemstellungen näher vor und geben eine systematische Übersicht von Anwendungsfällen aus der Forschung und der unternehmerischen Praxis. Abschließend analysieren wir den Anwendungsprozess zur Nutzung einer ABS, von der Konzeption und Modellierung bis hin zur Implementierung und dem Ablauf der Simulation.Abstract Complex systems frequently reveal decision problems which cannot be addressed by classical analytical or optimization methods. Markets consisting of players that interact with heterogeneous goals or enterprises with multi-faceted intertwined processes are typical examples of such systems within the global economy. During recent years, the agent-based simulation (ABS) has spread as a technology that helps to simulate such systems and better understand their inner causes and effects. In this work, we present the potential of ABS with respect to business applications and review a broad set of case studies from academia as well as from corporate practice.A. Deckert ( ) · R. Klein To conclude, we analyze the application process for the utilization of an ABS, spanning from the conception and modeling to implementation and the processing of the simulation.Schlüsselwörter Simulation · Agenten · Betriebswirtschaftliche Anwendungen

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Section: Energieunclassified

Agentenbasierte Simulation zur Analyse und Lösung betriebswirtschaftlicher Entscheidungsprobleme

Deckert

Klein

2010

J Betriebswirtsch

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“…In this paper we review and present the results of several applications of a simple daily profit reinforcement formulation, conditioned to a utilization target, for computational agents acting on a detailed wholesale power market simulation platform. This approach has been adapted, since 1998, to several real case studies, including Germany, UK, Russia, Italy and Korea [3,4]. We discuss the formulation, briefly review some of the general policy insights from these case studies, and discuss the Italian case study in particular as that involves additional locational aspects of market design as well as overall market concentration concerns.…”

Section: Analyzing the Price-effects Of Vertical And Horizontal Markementioning

confidence: 99%

“…In [3], existing market utilization factors were used and provided a basis for comparative insights on a change in the market mechanism from a compulsory day ahead pool to continuous voluntary bilateral trading, whereas in [4], the utilization factors were used as fitting parameters to calibrate the model to existing data. Then (in [4]), mergers and market consolidations were envisaged, a credible consequence of which would be reduced utilization and capacity withdrawal.…”

Section: Portfolio Managementmentioning

confidence: 99%

Analyzing the price-effects of vertical and horizontal market power with agent based simulation

Bunn

Martoccia

2008

2008 IEEE Power and Energy Society General Meeting - Conversion and Delivery of Electrical Energy in the 21st Century

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The use of an agent based simulation platform for market structure policy simulations in a restructured electricity markets reveal subtle insights with respect to the limited exercise of market power in situations where more conventional oligopoly models would suggest greater exploitation. The paper describes a detailed market simulation platform with agent strategies emerging as a result of simple reinforcement learning on both profit and capacity utilization. An example applied to addressing the evolution of some of the Italian market structure issues is described.

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“…Several papers have appeared in the ACE literature about wholesale electricity markets, but only some of them study realistic large-scale model of national wholesale electricity markets by comparing simulated results with historical performances. Prof. Bunn at London Business School has been one of the pioneer of this approach studying repeatedly the German and the England and Wales wholesale electricity markets ( [3], [4], [5] and [6]). Other works, such as [7], [8], [9], [10] and [11], have proposed detailed model of German, Belgian and USA wholesale electricity markets, but no validation at an aggregate level is performed and furthermore in some papers insufficient information are also provided about the model.…”

Section: Introductionmentioning

confidence: 99%

Agent-based model of the Italian wholesale electricity market

Rastegar

Guerci

Cincotti

2009

2009 6th International Conference on the European Energy Market

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International audienceThis paper proposes an agent-based computational model of the Italian wholesale electricity market. In particular, the aim of the paper is to study how the strategic behavior of the thermal power plants can influence the level of price at a zonal and national level with respect of a typical daily load profile. The model reproduces exactly the market clearing procedure, i.e., day-ahead market (DAM) and the Italian high-voltage transmission network with its zonal subdivision. Furthermore the daily load profile and all installed thermal power plants are realistically considered. Three price cases are studied and compared, i.e., the real situation, a cost based case and a final case where the generation companies learn according to a reinforcement learning algorithm their best strategy. The empirical validation at a national level enables to point out that the model replicate correctly historical data except for some peak-load hours

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A model-based analysis of strategic consolidation in the German electricity industry

Cited by 29 publications

References 0 publications

Agentenbasierte Simulation zur Analyse und Lösung betriebswirtschaftlicher Entscheidungsprobleme

Agentenbasierte Simulation zur Analyse und Lösung betriebswirtschaftlicher Entscheidungsprobleme

Analyzing the price-effects of vertical and horizontal market power with agent based simulation

Agent-based model of the Italian wholesale electricity market

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