Energeia
Simulating electricity markets
energeia simula is a windows-based simulation tool that computes equilibrium outcomes in electricity wholesale markets
Using a sound oligopoly model
The simulations performed by energeia simula are based on an oligopoly model that reflects most important features of electricity markets. This model has been published in leading journals in economics:
- Fabra, N. and Llobet, G. (2025) “Fossil Fuels and Renewable Energy: Mix or Match?”, Rand Journal of Economics.
- Fabra, N., Lacuesta, A. and Souza, M. (2020) “Degrowth versus Decoupling: Competing strategies for carbon abatement?” European Economic Review.
- De Frutos, M.A. and Fabra, N. (2012) “How to Allocate Forward Contracts: the case of electricity markets” European Economic Review 56(3), 451-469.
Building counterfactuals to analyze effects
energeia simula is capable of predicting (static) equilibrium bidding behavior among generators under various scenarios.
It allows to assessing the effects of (among others):
- Changes in market structure: mergers, divestitures, etc.
- Changes in market rules: contract obligations, emission rights, etc.
Assessing low-carbon investments
The new module allows to measure the market impact and assess the financial profitability of low-carbon projects, including renewable investments (solar, wind, solar thermal), energy storage, green hydrogen and data centres.
Descriptive slides [spanish] [english]
A sample of analyses performed with energeia:
- El efecto de las energías renovables sobre los costes y los precios del mercado de generación eléctrica [Spanish]
- Degrowth versus Decoupling: Competing strategies for carbon abatement?
- Analysis of the merger between Gas Natural and Unión Fenosa performed by the Spanish Energy Commission [Spanish]
- Analysis of the price effects of the closure of the coal plants in Spain [Spanish]
- Analysis of Virtual Power Plants (see section 5)
- Simulación sobre posibles medidas para reducir el precio del mercado eléctrico [Spanish]
- Simulaciones del Plan Nacional Integrado de Energía y Clima 2025-2030 (por Luis de Fuentes) [Spanish]
For more information, please contact info@energeiasimula.com
To access a demo version: software.energeiasimula.com
Natalia Fabra acknowledges financial support by the grant GA101123298 (ERC-2023-POC) from the European Research Council under the European Union’s Horizon 2020 research and innovation programme and CPP2021-008644 from the Agencia Estatal de Investigación.