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EMLab-Generation
by Delft University of Technology
Authors:
Jörn C. Richstein, Emile Chappin, Pradyumna Bhagwat, Laurens de Vries
Contact:
Jörn C. Richstein
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The main purpose is to explore the long-term effects of interacting energy and climate policies by means of a simulation model of power companies investing in generation capacity. With this model, we study the influence of policy on investment in the electricity market in order to explicate possible effects of current and alternative/additional policies on the various sector goals, i.e. renewables targets, CO2 emission targets, security of supply and affordability. The methodology, agent-based modelling, allows for a different set of assumptions different as to the mainstream models for such questions: this model can explore heterogeneity of actors, consequences of imperfect expectations and investment behaviour outside of ideal conditions.
Based on Java. Using R for data processing.
Website / Documentation
Download
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 Open Source
Apache License 2.0 (Apache-2.0)
Directly downloadable
Some input data shipped
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| Model Scope |
Model type and solution approach |
| Model class
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Agent-based Simulation
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| Sectors
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Electricity Market, Carbon Market
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| Technologies
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Renewables, Conventional Generation
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| Decisions
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dispatch, investment
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| Regions
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Central Western Europe
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| Geographic Resolution
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Zones
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| Time resolution
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Year
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| Network coverage
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net transfer capacities
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| Model type
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Simulation, Agent-based
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| Variables
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| Computation time
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60 minutes (Depends on the enabled modules)
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| Objective
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| Uncertainty modeling
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Limited foresight, optional risk aversion
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| Suited for many scenarios / monte-carlo
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Yes
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References
Scientific references
Richstein et al. 2014, Cross-border electricity market effects due to price caps in an emission trading system: An agent-based approach, Energy Policy Volume 71, August 2014, Pages 139–158
https://dx.doi.org/10.1016/j.enpol.2014.03.037
Example research questions
- What is the effect of carbon price caps?
- How is the market stability reserve going to effect the EU ETS?
- What long-term effects does a capacity market have?
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