WEL-IUA a new economic laboratory website for energy auctions

Efficiency in energy markets of deregulated electric systems has been subject to a number of studies. Despites the significant efforts in efficiency applied to the technological area, it is necessary to revise and improve the policies of economical operation in the markets. Wholesale electrical markets have auctions mechanisms that allow malicious behavior of some players involved. This article presents a Web simulator of energy auction that allows analyzing the market behavior, the total economic efficiency, volatility of price, market power and other variables. This simulator has been developed to operate like a simulation laboratory for implementing Economic Experiments. The Auction Simulator tool includes a user-friendly interface, permitting the definition of new auction mechanisms. To use this interface, one does not require advance knowledge in computer programming. Therefore, this simulator is a powerful teaching tool for anyone interested in acquiring knowledge and awareness of the operation, strengths and weakness of electrical markets