A stand-alone simulation game for the participation of wind producers in day-ahead electricity markets

Juan S. Giraldo; J.K. (Koen) Kok; N.G. Paterakis

doi:10.1109/EDUCON46332.2021.9454031

A stand-alone simulation game for the participation of wind producers in day-ahead electricity markets

Juan S. Giraldo, J.K. (Koen) Kok, N.G. Paterakis

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › Academic › peer-review

2 Citations (Scopus)

1 Downloads (Pure)

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 language	English
Title of host publication	2021 IEEE Global Engineering Education Conference (EDUCON)
Editors	Thomas Klinger, Christian Kollmitzer, Andreas Pester
Publisher	Institute of Electrical and Electronics Engineers
Pages	302-307
Number of pages	6
ISBN (Electronic)	978-1-7281-8478-4
DOIs	https://doi.org/10.1109/EDUCON46332.2021.9454031
Publication status	Published - 18 Jun 2021
Event	12th IEEE Global Engineering Education Conference, EDUCON 2021: Women in Engineering - Online, Vienna, Austria Duration: 21 Apr 2021 → 23 Apr 2021 Conference number: 12

Publication series

Name	IEEE Global Engineering Education Conference, EDUCON
Volume	2021-April
ISSN (Print)	2165-9559
ISSN (Electronic)	2165-9567

Conference

Conference	12th IEEE Global Engineering Education Conference, EDUCON 2021
Abbreviated title	EDUCON 2021
Country/Territory	Austria
City	Vienna
Period	21/04/21 → 23/04/21

Keywords

Electricity markets
Simulation game
wind farms
web-based games
stand-alone platform
Stand-alone platform
Web-based games
Wind farms

Access to Document

10.1109/EDUCON46332.2021.9454031

Cite this

Giraldo, J. S., Kok, J. K., & Paterakis, N. G. (2021). A stand-alone simulation game for the participation of wind producers in day-ahead electricity markets. In T. Klinger, C. Kollmitzer, & A. Pester (Eds.), 2021 IEEE Global Engineering Education Conference (EDUCON) (pp. 302-307). Article 9454031 (IEEE Global Engineering Education Conference, EDUCON; Vol. 2021-April). Institute of Electrical and Electronics Engineers. https://doi.org/10.1109/EDUCON46332.2021.9454031

Giraldo, Juan S. ; Kok, J.K. (Koen) ; Paterakis, N.G. / A stand-alone simulation game for the participation of wind producers in day-ahead electricity markets. 2021 IEEE Global Engineering Education Conference (EDUCON). editor / Thomas Klinger ; Christian Kollmitzer ; Andreas Pester. Institute of Electrical and Electronics Engineers, 2021. pp. 302-307 (IEEE Global Engineering Education Conference, EDUCON).

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title = "A stand-alone simulation game for the participation of wind producers in day-ahead electricity markets",

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%.",

keywords = "Electricity markets, Simulation game, wind farms, web-based games, stand-alone platform, Stand-alone platform, Web-based games, Wind farms",

author = "Giraldo, {Juan S.} and Kok, {J.K. (Koen)} and N.G. Paterakis",

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doi = "10.1109/EDUCON46332.2021.9454031",

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Giraldo, JS, Kok, JK & Paterakis, NG 2021, A stand-alone simulation game for the participation of wind producers in day-ahead electricity markets. in T Klinger, C Kollmitzer & A Pester (eds), 2021 IEEE Global Engineering Education Conference (EDUCON)., 9454031, IEEE Global Engineering Education Conference, EDUCON, vol. 2021-April, Institute of Electrical and Electronics Engineers, pp. 302-307, 12th IEEE Global Engineering Education Conference, EDUCON 2021, Vienna, Austria, 21/04/21. https://doi.org/10.1109/EDUCON46332.2021.9454031

A stand-alone simulation game for the participation of wind producers in day-ahead electricity markets. / Giraldo, Juan S.; Kok, J.K. (Koen); Paterakis, N.G.
2021 IEEE Global Engineering Education Conference (EDUCON). ed. / Thomas Klinger; Christian Kollmitzer; Andreas Pester. Institute of Electrical and Electronics Engineers, 2021. p. 302-307 9454031 (IEEE Global Engineering Education Conference, EDUCON; Vol. 2021-April).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › Academic › peer-review

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N2 - 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%.

AB - 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%.

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Giraldo JS, Kok JK , Paterakis NG. A stand-alone simulation game for the participation of wind producers in day-ahead electricity markets. In Klinger T, Kollmitzer C, Pester A, editors, 2021 IEEE Global Engineering Education Conference (EDUCON). Institute of Electrical and Electronics Engineers. 2021. p. 302-307. 9454031. (IEEE Global Engineering Education Conference, EDUCON). doi: 10.1109/EDUCON46332.2021.9454031

A stand-alone simulation game for the participation of wind producers in day-ahead electricity markets

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