Know Your Tools - A Comparison of Two Open Agent-Based Energy Market Models

International Conference on the European Energy Market (EEM), pp. 1–8

Abstract

Due to the transition to renewable energies, electricity markets need to be made fit for purpose. To enable the comparison of different energy market designs, modeling tools covering market actors and their heterogeneous behavior are needed. Agent-based models are ideally suited for this task. Such models can be used to simulate and analyze changes to market design or market mechanisms and their impact on market dynamics. In this paper, we conduct an evaluation and comparison of two actively developed open-source energy market simulation models. The two models, namely AMIRIS and ASSUME, are both designed to simulate future energy markets using an agent-based approach. The assessment encompasses modelling features and techniques, model performance, as well as a comparison of model results, which can serve as a blueprint for future comparative studies of simulation models. The main comparison dataset includes data of Germany in 2019 and simulates the Day-Ahead market and participating actors as individual agents. Both models are comparable close to the benchmark dataset with a MAE between 5.6 and 6.4 €/MWh while also modeling the actual dispatch realistically.

Authors 6

1. Florian Maurer Aachen

   FH Aachen

   Affiliation as printed

   University of Applied Sciences Aachen,Aachen,Germany

2. Felix Nitsch

   Deutsches Zentrum für Luft- und Raumfahrt e. V. (DLR)

   Affiliation as printed

   German Aerospace Center (DLR), Institute of Networked Energy Systems,Stuttgart,Germany

3. Johannes Kochems

   Deutsches Zentrum für Luft- und Raumfahrt e. V. (DLR)

   Affiliation as printed

   German Aerospace Center (DLR), Institute of Networked Energy Systems,Stuttgart,Germany

4. Christoph Schimeczek

   Deutsches Zentrum für Luft- und Raumfahrt e. V. (DLR)

   Affiliation as printed

   German Aerospace Center (DLR), Institute of Networked Energy Systems,Stuttgart,Germany

5. Volker Sander Aachen

   FH Aachen

   Affiliation as printed

   University of Applied Sciences Aachen,Aachen,Germany

6. Sebastian Lehnhoff

   Carl von Ossietzky Universität Oldenburg

   Affiliation as printed

   University of Oldenburg,Oldenburg,Germany