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Australian Electricity Market Simulator

Background


The emergence of smart energy grids together with smart meters, sensors, devices and appliances promises new financial and environmental efficiencies in the energy market and the overall economy. This has been recognised by the governments and industry around the world, as evidenced by the multi-billion dollar investments and commitments directed towards the development and adoption of new hardware and software technologies supporting the realisation of smart energy grids. In Australia, the exchange between electricity producers and electricity consumers is facilitated through the Australian Energy Market Operator (AEMO) which manages the electricity generation, transmission and distribution in conjunction with market participants and regulatory agencies. One of the proposed developments in the upcoming smart grids is the application of dynamic pricing to control and reduce the cost of environmental impacts of the current delivery chain (shown in the figure below). A simulator for the Australian electricity market is necessary in order to study the impacts of any changes in the electricity market. With the help of a simulator, industry and researchers will be able to try out new market strategies and analyse their impact on the energy market. Thus the main aim of this project is to build a simulator for the Australian Electricity Market for the purpose of studying the market behaviour under different market conditions.

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Main Entities of Australian Energy Market

Australian Energy Market Operator


The main aim of AEMO is to provide effective infrastructure for the efficient operation of the wholesale electricity market. The main functions of the AEMO are listed below:
  • Get the day ahead demand from the market customers for each 288 intervals (for every five minutes in a day)
  • Get the day ahead supply offers for 288 intervals from the generators
  • Calculate the dispatch price for every 5 minute interval
  • Calculate the commitments for the generators and give the necessary energy dispatch information to the generators
  • Calculate the spot price for each region for 48 slots in a day (spot price calculated every half an hour)
  • In case of a change in the supply offer, recalculate the dispatch prices, commitments and spot prices.
  • Calculate and settle the financial liabilities

AEMO Simulator


The AEMO simulator has been implemented by modifying the Agent based Modelling of Electricity System (AMES), a simulator for the US electricity market. While the Australian and US energy markets have got similar entities, the working mechanism for these entities is completely different in the two markets. Hence a fully functional simulator for the Australian energy market requires major code rewrite. In the first phase, we have implemented the following functionality for the AEMO:
  • Getting the 288 interval day ahead demand from the demand side and supply offers from the supply side
  • Calculation of the dispatch price
  • Calculation of the generator commitments
  • Calculation of the spot price
  • Inter-region energy transfer (under some basic assumptions)
  • Simulation of impact of changed supply offers on the day-ahead market

Some screenshots


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Main Screen for AMEO Simulator

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Generator Commitments

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Spot prices

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Change in supply offers

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Change in spot price

Project Members





© Swinburne  Copyright and disclaimer information
last modification: Monday 20 of June, 2011 [02:10:47 UTC] by mchhetri
Maintained by: IAT Webmaster (mchhetri@swin.edu.au)