# Market Modeling

PowerWorld Corporation provides software training in the use of PowerWorld Simulator and add-on products OPF, SCOPF, OPF Reserves, ATC, PVQV, Transient Stability, and SimAuto. Our training also covers some basics of the engineering, operations, and economics of interconnected power systems.

Slides used in the 2-day course, Power System Economics and Market Modeling with PowerWorld Simulator, are available here. If you don’t yet have PowerWorld Simulator you can perform many of the exercises covered in these training modules on our free 13-bus evaluation version.

## Topics

### M1: Electricity Market Concepts and Industry Trends

Overview; Electricity Markets; Electricity Market Equilibrium; Characteristics of Electricity; Market Architecture; Market Trends

### M2: Optimal Power Flow

Overview of the Optimal Power Flow Algorithm and its Use; Example 2 bus system; Example 3 bus system; Explanation of Line Limit Enforcement; Unenforceable Constraints; Maximum Violation Cost and Limit Cost Curves; LP OPF Options Dialog; OPF Contraints Display; OPF Area, Generator, Bus Records; Cost of Energy, Losses and Congestion; Super Areas on OPF; Example Graphics

### M3: Overview of Linear Programming

Motivation; LP Standard Form; Fundamental Theorem of LP; The Simplex Method; Simplex Algorithm; Example 3 bus system Revisited

Advanced Limit Monitoring; Monitoring Exceptions; Contingency Blocks; Contingency Global Actions; Conditional Contingency Actions; Modeling Remedial Action Schemes (RAS) or Special Protection Schemes (SPS); Model Conditions; Model Filters; Model Expressions; Contingency Element Status; Advanced Contingency Options; Bus Load Throwover Records; Generator Maximum MW Response; Generator Post-Contingency AGC; Generator Line-Drop or Reactive Current Compensation; Post Contingency Auxiliary Files; Sample Case; Design and Simulate a Special Protection Scheme (SPS); TLR Analysis; Line Loading Replicator; OPF with minimum control change; Using Combined Tables for Reporting; Report Writing; Comparing two sets of Contingency Results; Other Actions

### M5: Security-Constrained Optimal Power Flow

Interfaces with Contingent Elements; Area Transactions as OPF Controls; DC Power Flow Modeling in the OPF; SCOPF Overview; Contingency Analysis; Solution Process; Violations; Example

### M6: OPF Reserve Markets (slides only)

Introduction; Reserve Resource Controls; Solving Normal OPF; Regulating Reserve Example; Area Regulating Reserve Demand; Generator Reserve Controls; OPF with Regulating Reserves; Effect of Generator Limits; Effect of Scarce Reserve; Contingency Reserves; Area Contingency Reserves; Generator Contingency Reserves; Area Contingency Reserve Demand; Contingency Reserve Pricing; Area Operating Reserves; Area Operating Reserve Demand; Operating Reserve OPF Solution; Spinning Percent Constraint; Spinning Percent Example; Multiple Area/Zone Case; Generator Control Result; Basic Variables Result; Area Results; Zone Results; Effect of Removing Constraints; Effect of Available Reserves; Hour-by-hour Simulations; Time-Step Simulation (TSS) Reserve Simulations

### M7: Time-Step Simulation (slides only)

Overview; Time Step Simulation Dialog; Setting up Hourly Input Data; Setting up Results; Exploring Results; Specifying Scheduled Input Data; Schedules and Subscriptions; Examples; Continuous and Timed Simulations

### M8: Developing an LMP Analysis for a Large Case

Process Overview; Case Development; Eastern Interconnect/PJM Case; Options for Further Analysis; Super Area; More on Challenges of OPF Formulation and Solution; Analysis of Unenforceable Constraints; Insufficient Reserves; Too Much Power Transfer

### M9: OPF Automation Examples

OPF Automation Examples; What Can You DO with Auxiliary Files; Standardize Settings; One-line Diagrams; Display Explorer; OPF Automation with Time-Step Simulation; Time-Step Setup; Schedules; Schedule Subscriptions; Specify Results to Track; Perform Simulation; Examine Results