Market Abstraction of Energy Markets and Policies for a Comparative Simulation of Energy Market Designs

Am Montag, den 06. Mai 2024, um 14:15 Uhr hält

Florian Maurer
FH Aachen

im Rahmen seiner beabsichtigten Dissertation einen Vortrag mit dem Titel

Market Abstraction of Energy Markets and Policies for a Comparative Simulation of Energy Market Designs

Der Vortrag findet hybrid statt:
OFFIS, Escherweg 2, Raum D21 und

In light of emerging challenges in energy systems, markets are prone to changing dynamics and market design.
Simulation models are commonly used to understand the changing dynamics of future electricity markets. However,
existing market models were often created with specific use cases in mind, which limits their flexibility and
usability. Often projects are reimplementing market simulations because existing ones do not fit their use case.
This shows a demand for a market model which is flexible enough to cover different energy market designs and
create comparable results of different use case studies. The doctoral thesis investigates whether a generalized approach
to simulate and compare different market models is possible, implemented as an agent-based simulation.
The central research question to be answered is therefore as follows:
"How can different energy market designs be evaluated in a simulative comparative manner?"
A formalization of the rules and regulations of different energy markets, which can then be generalized and used
as an abstraction layer is provided in the thesis as a foundation. This formalization has been extended and evaluated
based on research of existing simulation approaches and energy market designs, as well as feedback from the
research community. This includes the definition of contracts between market actors in with financial as well as
physical power obligations. To provide interoperability towards other tools, an abstraction layer of the input data
makes it possible to conveniently use existing simulation scenario datasets for the market simulation. Key performance
indicators of the simulations can be defined beforehand and are calculated within the energy market simulation.
Furthermore, novel features of this abstraction include support for continuous market auctions, conditional contracts
between market participants and customizable market products. This allows configuration of a market design
as an input to a market simulation and compare different simulation results.
The focus is settled on the abstraction of different market models and how they can be simulated within the same
framework. The optimal trading strategy of the market players, the most realistic input scenario as well as finding
the best possible key performance indicators the focus of the project. However, using the framework these parts
can be further configured and explored in the future.
Betreuer: Prof. Dr. Sebastian Lehnhoff


06.05.2024 14:15 – 15:45

(Stand: 19.01.2024)  | 
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