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Agent-based simulation-an application to the new electricity trading arrangements of England and Wales

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2 Author(s)
Bunn, D.W. ; Decision Sci. Dept., London Bus. Sch., UK ; Oliveira, F.S.

This paper presents a large-scale application of multiagent evolutionary modeling to the proposed new electricity trading arrangements (NETA) in the UK. This is a detailed plant-by-plant model with an active specification of the demand side of the market. NETA involves a bilateral forward market followed by a balancing mechanism and then an imbalance settlement process. This agent-based simulation model was able to provide pricing and strategic insights, ahead of NETA's actual introduction

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Evolutionary Computation, IEEE Transactions on  (Volume:5 ,  Issue: 5 )