New simulation method stabilizes electricity market, benefiting consumers and suppliers.
The article discusses a method to simulate how electricity prices are determined in the market when there are changes in supply and demand. By analyzing the ratio of supply to demand in the electricity market, the researchers created a model to predict how power suppliers and electricity companies will bid in different market conditions. They used a learning algorithm to simulate the behavior of 10 power suppliers and 30 electricity companies in the market. The results showed that this bidding model effectively represents how market members adjust their prices based on supply and demand changes.