Generation Companies Agent-Based Modelling: Application to the Colombian Day-Ahead Market

Abstract

Several Agent-Based Modelling platforms specific for the energy market simulations have been implemented in recent years. However, the methodology to manage the individual plants under the same generation company is not well investigated. This represents a very critical aspect for oligopolistic markets. The aim of this work is to develop an Agent-Based Modelling platform that recreates the coordinated management of different plants of the same generation company with focus on the prevalence of the hydropower plants in the generation park. The model will be used to analyses the Colombian Day-Ahead Electricity market.