The genoa artificial power-exchange

Abstract

The paper presents the Genoa Artificial Power Exchange, an agent-based framework for modeling and simulating power exchanges implemented in MATLAB. GAPEX allows creation of artificial power exchanges reproducing exact market clearing procedures of the most important European power-exchanges. In this paper we present results from a simulation performed on the Italian PEX where we have reproduced the Locational Marginal Price Algorithm based on the Italian high-voltage transmission network with its zonal subdivisions and we considered the Gencos in direct correspondence with the real ones. An enhanced version of the Roth-Erev algorithm is presented so to be able to consider the presence of affine total cost functions for the Gencos which results in payoff either positive, negative and null. A close agreement with historical real market data during both peak- and off-peak load hours of prices reproduced by GAPEX confirm its direct applicability to model and to simulate power exchanges. © Springer-Verlag Berlin Heidelberg 2013.