A Stand-Alone Simulation Game for the Participation of Wind Producers in Day-Ahead Electricity Markets

Juan S. Giraldo, Koen Kok, Nikolaos G. Paterakis

Research output: Chapter in Book/Report/Conference proceedingConference contributionAcademicpeer-review

Abstract

This paper presents an instance of a web-based stand-alone simulation game aimed at teaching electricity market subjects. The main objectives of this version of the electricity markets game (EmGA) platform are to introduce players/students to the short-term electricity market structure and to highlight the importance of forecasting tools in decision-making. A hypothetical situation has been carefully designed using historical data, where each player takes the role of a wind farm owner willing to participate in the day-ahead electricity market to maximize its economic profit. Players are asked to submit hourly energy bids which are then compared to the wind farm’s actual energy production and mapped to revenue by basic market rules for price-taker participants. Preliminary student feedback reinforces the potential of the EmGA platform for improving the teaching of electricity market subjects, showing a general acceptance and a perception of improved knowledge reception of more than 77%.
Original languageEnglish
Title of host publicationProceedings of the 2021 IEEE Global Engineering Education Conference, EDUCON 2021
EditorsThomas Klinger, Christian Kollmitzer, Andreas Pester
PublisherIEEE
Pages302-307
Number of pages6
ISBN (Electronic)978-1-7281-8478-4
ISBN (Print)978-1-7281-8479-1
DOIs
Publication statusPublished - 18 Jun 2021
Externally publishedYes
Event2021 IEEE Global Engineering Education Conference - Vienna, Austria
Duration: 21 Apr 202123 Apr 2021

Conference

Conference2021 IEEE Global Engineering Education Conference
Abbreviated titleEDUCON 2021
CountryAustria
CityVienna
Period21/04/2123/04/21

Keywords

  • Electricity markets
  • Simulation game
  • Wind energy
  • Web-based game

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