Agent-Based Simulation of Interconnected Wholesale Electricity Markets: An Application to the German and French Market Area

  • Andreas BublitzEmail author
  • Philipp Ringler
  • Massimo Genoese
  • Wolf Fichtner
Conference paper
Part of the Lecture Notes in Computer Science book series (LNCS, volume 8946)


In the context of wholesale electricity markets, agent-based models have shown to be an appealing approach. Given its ability to adequately model interrelated markets with its main players and considering detailed data, agent-based models have already provided valuable insights in related research questions, e.g. about adequate regulatory frameworks. In this paper, an agent-based model with an application to the German and French market area is presented. The model is able to analyze short-term as well as long-term effects in electricity markets. It simulates the hourly day-ahead market with limited interconnection capacities between the regarded market areas and determines the market outcome as well as the power plant dispatch. Yearly, each agent has the possibility to invest in new conventional capacities which e.g. allows assessing security of supply related questions in future years. Furthermore, the model can be used for participatory simulations where humans take the place of the models agents. In order to adapt to the ongoing changes in electricity markets, e.g. due to the rise of renewable energies and the integration of European electricity markets, the model is constantly developed further. Future extensions include amongst others the implementations of an intraday market as well as the integration of additional market areas.


Agent-based simulation Economic agent models  Electricity markets Multi-agent systems 


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Copyright information

© Springer International Publishing Switzerland 2015

Authors and Affiliations

  • Andreas Bublitz
    • 1
    Email author
  • Philipp Ringler
    • 1
  • Massimo Genoese
    • 1
  • Wolf Fichtner
    • 1
  1. 1.Chair of Energy EconomicsKarlsruhe Institute of TechnologyKarlsruheGermany

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