This paper discusses the use of agent-based simulation models for regulatory advice in electricity market regulation. It briefly introduces the necessary procedures and the state-of-the-art of the methodology, and outlines its possible range of application. In a second part, the paper presents...

The complexity of electricity markets calls for rich and flexible modeling techniques that help to understand market dynamics and to derive advice for the design of appropriate regulatory frameworks. Agent-Based Computational Economics (ACE) is a fairly young research paradigm that offers...

While some agent-based models have been developed for analyzing the German electricity market, there has been little research done on the emerging issue of intra-German congestion and its effects on the bidding behavior of generator agents. Yet, studies of other markets have shown that...

The German feed-in support of electricity generation from renewable energy sources has led to high growth rates of the supported technologies. Critics state that the costs for consumers are too high. An important aspect to be considered in the discussion is the price effect created by renewable...

The German feed-in support of electricity generation from renewable energy sources has led to high growth rates of the supported technologies. Critics state that the costs for consumers are too high. An important aspect to be considered in the discussion is the price effect created by renewable...

Liberalisation, climate policy and promotion of renewable energy are challenges to players of the electricity sector in many countries. Policy makers have to consider issues like market power, bounded rationality of players and the appearance of fluctuating energy sources in order to provide...

Wind power generation and its impacts on electricity prices has strongly increased in the EU. Therefore, appropriate mark-to-market evaluation of new investments in wind power and energy storage plants should consider the fluctuant generation of wind power and uncertain electricity prices, which...

This paper evaluates different financial price and time series models, such as mean reversion, autoregressive moving average (ARMA), integrated ARMA (ARIMA) and general autoregressive conditional heteroscedasticity (GARCH) process, usually applied for electricity price simulations. However, as...

The business model concept, although a relatively new topic for research, has garnered growing attention over the past decade. Whilst it has been robustly defined, the concept has so far attracted very little substantive research. In the context of the wide-spread digitization of businesses and...