emarketlib 0.0.1

Energy market toolbox

emarketlib

A Python library for simulating electricity markets and market mechanisms.

Features

• Base market implementation with configurable market mechanisms
• Multiple clearing algorithms:
  • Pay-as-clear (uniform pricing)
  • Pay-as-bid
  • Average mechanism
  • Trade reduction mechanism
  • McAfee mechanism
  • VCG auction mechanism
• Support for:
  • Market registration and validation
  • Order book handling
  • Market clearing
  • Result storage and querying
  • Grid topology data

Market Mechanisms

Pay-as-clear (Uniform Pricing)

• All accepted orders receive the same clearing price
• Clearing price determined by highest accepted supply order
• Merit order based clearing with random tie-breaking

Pay-as-bid

• Each accepted order is settled at its bid price
• Merit order based clearing with random tie-breaking

Average Mechanism

• Clearing price is average of highest accepted supply and lowest accepted demand price
• Not incentive compatible but individually rational

Trade Reduction

• Removes last matched trade to achieve incentive compatibility
• Not efficient but individually rational
• Budget balanced but not strongly budget balanced

McAfee Mechanism

• Incentive compatible and individually rational
• Weakly budget balanced
• Not efficient when price conditions not met

VCG Auction

• Incentive compatible and individually rational
• Efficient but not budget balanced
• Auctioneer must subsidize difference

Usage

from emarketlib import MarketConfig
from emarketlib.clearing_algorithms.simple import PayAsClearRole

# Create market config
config = MarketConfig(
    market_id="day_ahead",
    # Add configuration parameters
)

# Initialize market with clearing mechanism
market = PayAsClearRole(config)

Installation

pip install emarketlib