Energeia
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.
Fabra, N., Lacuesta, A. and Souza, M. (2020) “Degrowth versus Decoupling: Competing strategies for carbon abatement?”
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:
- El efecto de las energías renovables sobre los costes y los precios del mercado de generación eléctrica [Spanish]
- Degrowth versus Decoupling: Competing strategies for carbon abatement?
- 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]
- Simulaciones del Plan Nacional Integrado de Energía y Clima 2025-2030 (por Luis de Fuentes) [Spanish]
For more information, please contact natalia.fabra@uc3m.es
Natalia Fabra acknowledges finantial support by the grant PDC2021-141269-I00 funded by MCIN/AEI/10.13039/501100011033 and by the European Union “NextGenerationEU/PRTR” and GA101123298 (ERC-2023-POC) from the European Reserarch Council under the European Union´s Horizon 2020 research and innovation programme.