Power engineering lab for complicated experimental research of electricity markets

This paper presents a successful lab experience to conduct experimental research and teach pool-based electricity markets to power engineering students. Students are arranged in groups and assigned, at random, a set of generators. They play the role of power producers and compete against each other with the target of maximizing their own profits. The instructor plays the role of the experimenter. A market simulator and a computer communication network make it possible to simulate the actual functioning of a pool-based electricity market. The elements that have made this experimental and educational experience successful are described and analyzed. Several case examples are discussed.