Journal
ENERGY POLICY
Volume 37, Issue 2, Pages 465-471Publisher
ELSEVIER SCI LTD
DOI: 10.1016/j.enpol.2008.09.075
Keywords
Learning in new markets; System dynamics; Electricity
Funding
- Universidad Nacional de Colombia, ISA, XM
- European Commission [CITS-CT-2006-028942]
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We illustrate and discuss the use of a computer-based learning environment, known as a microworld, for training agents in the Colombian electricity market. As the market operator was concerned with efficiency in the electricity spot market because of an insufficient number of participants, they commissioned a tool that could help potential participants to learn about both market operation as well as the risk management it involved. By making the industry more transparent it was intended that a larger number of traders and companies would participate in the market, making it more efficient. We describe the development and use of this tool, which is based on system dynamics and gaming. (C) 2008 Elsevier Ltd. All rights reserved.
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