Using multi-agent simulation to test European electricity markets

We discuss examples of implementations of agent-based simulation models in several European countries. Agent-based modeling and simulation (ABMS) is increasingly used as a tool to analyze power markets around the world and test the robustness of electricity markets and their underlying rules. The diversity of market designs, the complexities in their configurations with multitudes of participants, and their coupling with the underlying infrastructure require simulation approaches that allow a better representation of these real-world constraints. The power of ABMS tools lies in the flexibility they provide to merge and address these requirements in a single modeling framework.