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Bhagwat, P.C. (author), Richstein, J.C. (author), Chappin, E.J.L. (author), Iychettira, K.K. (author), De Vries, Laurens (author)The cross-border effects of a capacity market and a strategic reserve in interconnected electricity markets are modeled using an agent-based modeling methodology. Both capacity mechanisms improve the security of supply and reduce consumer costs. Our results indicate that interconnections do not affect the effectiveness of a capacity market,...journal article 2017
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Chappin, E.J.L. (author), De Vries, Laurens (author), Richstein, J.C. (author), Bhagwat, P.C. (author), Iychettira, K.K. (author), Khan, A.S.M. (author)We present an approach to simulate climate and energy policy for the EU, using a flexible and modular agent-based modelling approach and a toolbox, called the Energy Modelling Laboratory (EMLab). The paper shortly reviews core challenges and approaches for modelling climate and energy policy in light of the energy transition. Afterwards, we...journal article 2017
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Bhagwat, P.C. (author), Iychettira, K.K. (author), Richstein, J.C. (author), Chappin, E.J.L. (author), De Vries, Laurens (author)The effectiveness of a capacity market is analyzed by simulating three conditions that may cause suboptimal investment in the electricity generation: imperfect information and uncertainty; declining demand shocks resulting in load loss; and a growing share of renewable energy sources in the generation portfolio. Implementation of a capacity...journal article 2017
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Bhagwat, P.C. (author), Marcheselli, A. (author), Richstein, J.C. (author), Chappin, E.J.L. (author), De Vries, Laurens (author)We analyze the effectiveness of a forward capacity market (FCM) with long-term contracts in an electricity market in the presence of a growing share of renewable energy. An agent-based model is used for this analysis. Capacity markets can compensate for the deteriorating incentive to invest in controllable power plants when the share of...journal article 2017
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Bhagwat, P.C. (author), Richstein, J.C. (author), Chappin, E.J.L. (author), De Vries, Laurens (author)To ensure sufficient investment in electricity generation capacity, mechanisms such as strategic reserves are being considered or already implemented. We analyze the effectiveness of a strategic reserve in the presence of a growing portfolio share of renewable energy sources (RES) with EMLab-Generation, an agent-based electricity market model...journal article 2016
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- Bhagwat, P.C. (author), Iychettira, K.K. (author), De Vries, Laurens (author) conference paper 2013