Power TAC is a competitive simulation that models a “liberalized” retail electrical energy market, where competing business entities or “brokers” offer energy services to customers through tariff contracts, and must then serve those customers by trading in a wholesale market.
Brokers are challenged to maximize their profits by buying and selling energy in the wholesale and retail markets, subject to fixed costs and constraints. Costs include fees for publication and withdrawal of tariffs, and distribution fees for transporting energy to their contracted customers. Costs are also incurred whenever there is an imbalance between a broker’s total contracted energy supply and demand within a given time slot.
The simulation environment models a wholesale market, a regulated distribution utility,and a population of energy customers, situated in a real location on Earth during a specific period for which weather data is available.
A pilot demonstration of Power TAC was first operated on July 2011 at IJCAI in Barcelona.
Power TAC public wiki: http://www.powertac.org/wiki/index.php/Main_Page
Game Master: Wolf Ketter
For further information, please visit the Power TAC website.