Simulating electricity markets
energeia simula is a windows-based simulation tool that computes equilibrium outcomes in electricity wholesale markets
Using a sound oligopoly model
The simulations performed by energeia simula are based on an oligopoly model that reflects most important features of electricity markets. This model has been published in a leading journal in economics:
De Frutos, M.A. and Fabra, N. (2012) “How to Allocate Forward Contracts: the case of electricity markets” European Economic Review 56(3), 451-469.
Building counterfactuals to analyze effects
energeia simula is capable of predicting (static) equilibrium bidding behavior among generators under various scenarios
It allows to assessing the effects of (among others):
- Changes in market structure: mergers, divestitures, etc.
- Changes in market rules: contract obligations, emission rights, etc.
Descriptive slides [spanish] [english]
A sample of analyses performed with energeia:
- Analysis of the merger between Gas Natural and Unión Fenosa performed by the Spanish Energy Commission [spanish]
- Analysis of the price effects of the closure of the coal plants in Spain [spanish]
- Analysis of Virtual Power Plants (see section 5)
- Simulación sobre posibles medidas para reducir el precio del mercado eléctrico [spanish]
For more information, please contact firstname.lastname@example.org