This disclosure relates to methods and systems for simulation of electricity value ecosystem using agent based modeling approach. State-of-the-art methods utilize simulation tools to support decision making that do not model agents own behaviour and its response to other agents based on an interaction, thereby unable to analyse complex interactions in the electricity value ecosystem. The present disclosure provides a generalized integrated simulation platform which provides dynamic configurability to simulate a plurality of user requirements associated with the electricity value eco-system using a causal diagram which is further used to identify a plurality of agents. Further, a plurality of a plurality of models and processes for the plurality of agents are determined or generated based on their availability in a repository. The causal diagram is refined in accordance with one or more constraints which supports in making a better and informed decision considering changing dynamics of the plurality of agents.