Simulating electricity markets

Project already available
Software that integrates market simulations into the production and transport of electricity.

Market benefits

  • Includes several options for setting parameters
  • Flexible
  • Multi-zone
  • Modelling of transmission network
  • Capacity expansion planning
  • Reduced computing time

Issue

It is essential to have a clear understanding of the current of the network and to anticipate demand to organize the use and allocation of energy production resources as needed.

Many variable parameters and constraints need to be considered to create a reliable, realistic simulation and for optimal network management.

There is currently no exhaustive solution able to consider all these variables.

Solution

We have developed simulation software that is able to consider all these parameters and enables users to reliably predict the status / load of the network according to anticipated energy demand, production capacity, and interconnectors.

Our software is a decision-making tool that generates suggestions for allocating resources to meet demand and predict any issues that may arise.

Key features :

Integrated model with several parameters that can be set:
– Analysis of forecasts from daily through to several decades ahead
– Typical scenario durations of a few days up to 2 years
– Fastest computing time in as little as an hour
– Over one hundred input scenarios can be used: demand, wind, hydro-potential, O&M events, etc.

Flexible model:
– Several generic asset models allow the user to model unlimited real assets with their specific behaviors
– Power multi-zone organization with modelling of interconnectors

Multi-zone: ability to model complex multi-zone systems (several countries or areas inside a country) with transmission lines

Carbon emissions forecast for each power generation scenario

Transmission network modelling:
– Generation economic dispatch and unit commitment is fully integrated with an optimal power flow
– Loss modelling and corresponding safety and security constraints
– Generic constraints and interface limits, wheeling charges, automatic aggregation of network areas.
– European Flow-Based network system simulation

Capacity expansion planning: optimize electric power generation, transmission lines, and energy storage.

Precise and easy to use model:
– Realistic use strategy and management of hydraulics through dynamic programming
– Realistic thermal unit start and stop cycles with dynamic constraints
– Precise modelling of the European Flow-Based interconnector system and its impacts.

Performance:
– Distributed computing method to reduce computing time.
– Computing times using a cluster of 17 nodes and 68 processors for long-term studies on a European scale with hourly resolution over one year, for one hundred scenarios: 5 minutes with static constraints and 30 minutes with dynamic constraints.

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