"Testing the reliability of FERC’s..."

Key Issues for
Wholesale Power Markets

Wholesale Power Market Platform -- WPMP          
(FERC, White Paper, April 2003)

Key WPMP Features

FERC’s Basic WPMP Proposal Adopted?

Economic Electricity Research (www.econ.iastate.edu/ tesfatsi/epres.htm)

DOE’s Quantitative Assessment of WPMP
(DOE/S-0138, 4/03)

Key Aspects of DOE’s            Quantitative Assessment

Potential Contributions of Agent-Based Computational Economics (ACE) Approach

ACE Electricity Research:                                                   
( www.econ.iastate.edu/ tesfatsi/aelect.htm )

Our ACE Wholesale Power Market Model

Initial Core Model

5-Bus Demo Model

ACE WPM Model: Class Hierarchy

ISO Market Operation (Day D)

ACE WPM Model: Activity Flow

Measures of  Market Performance
(Economic Reliability)

Market Performance: Key Considerations

Market Performance: Key Considerations …

Initial Experimental Design:                              Treatment Factor Ranges

Longer-Run Research Plans