PowerACE - An Agent-based Electricity Market Model

PowerACE is an agent-based electricity market model. Its modeling approach makes it possible to examine the interplay between market mechanisms and agent behavior. The framework includes modules for analyzing both operational decision-making and strategic behavior. Different agents and technologies can be represented, and a variety of market conditions can be explored. As a bottom-up model, PowerACE represents unit-level assets and firms to capture heterogeneity, learning, and long-term investment dynamics, enabling rigorous assessments of policy, market design, and system adequacy under uncertainty. Through interfaces, additional models, such as (optimal) power flow models or reinforcement-learning modules, can be combined with the model. This enables PowerACE to support comprehensive analyses within the energy system.