POWERWEB is an interactive, distributed, Internet-based simulation environment for experimentally testing various power exchange auction markets using human decision makers. As with most existing and proposed electric power markets, POWERWEB assumes the presence of a central agent acting as an independent system operator (ISO) to assure the reliable operation of the physical power system. The POWERWEB environment is designed to run unit commitment and optimal power flow routines against load forecasts in order to provide generation schedules such as those that might be assigned by a Power Exchange (PX).
In the current implementation of POWERWEB, the ISO/PX receives offers to sell power from independently owned generation facilities. Based on a forecasted load profile and the offers submitted by the generators, the ISO computes the amount of power to be produced by each generator and the corresponding price, such that the demand is met while satisfying all of the system's operational constraints. The method used to solicit offers and the mechanism which determines prices are dependent on the market model being examined.
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