Abstract:A smart grid can be considered as a complex network where each node represents a generation unit or a consumer. Whereas links can be used to represent transmission lines. One way to study complex systems is by using the agent-based modeling (ABM) paradigm. An ABM is a way of representing a complex system of autonomous agents interacting with each other. Previously, a number of studies have been presented in the smart grid domain making use of the ABM paradigm. However, to the best of our knowledge, none of these studies have focused on the specification aspect of ABM. An ABM specification is important not only for understanding but also for replication of the model. In this study, we focus on development as well as specification of ABM for smart grid. We propose an ABM by using a combination of agent-based and complex network-based approaches. For ABM specification, we use ODD and DREAM specification approaches. We analyze these two specification approaches qualitatively as well as quantitatively. Extensive experiments demonstrate that DREAM is a most useful approach as compared with ODD for modeling as well as for replication of models for smart grid.