Power System Economics and Market Modeling with PowerWorld Simulator
This 1.5-day advanced course discusses today’s LMP power markets and how to model them with PowerWorld Simulator. Participants will learn:
- fundamentals of LMP power markets;
- fundamentals of linear programming optimization techniques;
- how to develop a large-scale power flow case and perform LMP market simulation;
- how to model system contingencies in detail, including conditional remedial action schemes (RAS)/special protection schemes (SPS); and
- how to develop a time-step grid for hourly system simulation.
Participants will also see examples of automation applications for LMP market simulation and learn how to use advanced add-on analysis tools in PowerWorld Simulator, including:
- Optimal Power Flow (OPF)
- Security-Constrained Optimal Power Flow (SCOPF)
Prerequisites
Introduction to PowerWorld Simulator: Interface and Common Tools