Effective electricity market simulators

The paper outlines the needs of the participants in deregulated electricity markets which are quite different for each participant. The paper then describes operating training simulators, multiple area control operator training simulators, generic control center models, and the transition to market-based operations. Generation company models, energy service company models, market administration models and ISO models are outlined. An outline structure of an electricity market simulator and its realisation discussed. The benefits of a market simulator are also discussed.