Microworld For Simulating A Spot Electricity Market

This work introduces a simulation microworld for an energy spot market. Electric utilities privatization and enforcement of market oriented architectures have been on stage in the electricity generation business for some time; one of the problems with this new approach is that market participants and interested people have not been adequately trained to operate in the new environment, therefore, this work is presented as a tool to ease the learning of the energy spot market architecture. The microworld has a climate model to simulate the El Nino Southern Oscillation (ENSO) and a model to generate the supply price of the generators, besides it is highly customizable, and can simulate diverse types of energy pricing markets. Adapted from the source document.