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dc.contributor.authorPakka, V. H.en
dc.contributor.authorArdestani, B. M.en
dc.contributor.authorRylatt, R. M.en
dc.date.accessioned2013-10-09T10:36:51Z
dc.date.available2013-10-09T10:36:51Z
dc.date.issued2013-07-03
dc.identifier.citationPakka, V.H., Ardestani, B.M. and Rylatt, R.M. (2013) An Agent Based Model for Optimal Generation Mix based on Price Elasticity of Aggregated Consumer Demand. 13th Spanish-Portuguese Conference on Electrical Engineering (XIIICHLIE), Valencia, Spain, 3-5 July, 2013.en
dc.identifier.urihttp://hdl.handle.net/2086/9145
dc.descriptionThis work was conducted as part of the AMEN (Agentbased Modelling of Electricity Networks) project, funded by the Engineering and Physical Sciences Research Council in the UK under Grant Reference EP/K033492/1.en
dc.description.abstractThis work has its interests in the relation between the generation mix within a power system and the elasticity of demand based on the prices emerging from the short term electricity market. The paper starts by describing a new agent-based modelling framework that involves electricity producers, consumers and suppliers as agents participating in a market environment. The framework allows for investigating the effect of demand elasticities on bidding of generators in the short term market and its influence on their revenue in the long term. We focus on the increasingly important issue of renewable technology such as wind generation and the volatility it brings into the electricity market. Specifically we investigate three scenarios with varying mix of generating technologies such as coal, gas and wind turbines and measure the aggregate demand response to signals such as the System Buy Prices (SBP) emerging out of the balancing market.en
dc.language.isoenen
dc.subjectOptimal Generation Mixen
dc.subjectAgent Based Modelen
dc.subjectShort Term Electricity Pricesen
dc.subjectWind Poweren
dc.subjectElasticityen
dc.titleAn Agent Based Model for Optimal Generation Mix based on Price Elasticity of Aggregated Consumer Demanden
dc.typeConferenceen
dc.researchgroupInstitute of Energy and Sustainable Developmenten
dc.peerreviewedYesen
dc.funderEPSRC (Engineering and Physical Sciences Research Council)en
dc.projectidEP/K033492/1en
dc.researchinstituteInstitute of Energy and Sustainable Development (IESD)en


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