Day ahead market operation with agent based modeling

This paper analyses the deregulated electricity market by using an open source software namely Agent based Modeling of Electricity Systems (AMES). DC Optimal Power Flow (DCOPF) method is used for calculating the real power flow during the market operation. The whole electricity market is managed by the Independent System Operator (ISO) which computes the hourly Locational Marginal Price (LMP) and commitments of power exchange for day-ahead market operation. For the analysis and demonstration, a 3 bus system is considered and market operation is illustrated.