Knowledge Base

Can I simulate Electricity Markets with Simulator?

Simulator is an ideal tool to analyze electricity markets. Based on generator bids, load benefit curves and full modeling of the transmission grid, Simulator OPF/SCOPF allows you to determine security-constrained LMP’s at every bus in the system, and thus determine how much the market agents will have to pay or be paid in the market. Simulator will allow you to minimize system operating cost, to enforce security constraints, and to determine the effect of congestion and re-dispatch. You can use Simulator to determine, reproduce and forecast marginal prices, which will help you design the best strategy to operate your assets in the market. Using Simulator Time Step Simulation tool, you can obtain the system optimal dispatch and LMP’s for a number of hours, and see how prices change with demand or system conditions. Furthermore, you can visualize LMP’s on your oneline diagrams and obtain great insight about the spatial behavior of marginal prices, congested paths and even detect market power.

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July 3, 2012