Energy Markets Nodal and Zonal Analysis
PROMOD IV is the industry-leading Fundamental Electric Market Simulation software, incorporating extensive details for understanding generating unit operating characteristics, transmission grid topology and constraints, and market system operations.
How can I determine the effects of transmission congestion, fuel costs, generator availability, bidding behavior, and load growth on market prices?
What tools are available to help me analyze complexities and risks associates with transmission access to plant locations, power contracts, and unit production costs?
What is available to me for establishing the price of energy, capacity, and ancillary services in the marketplace?
PROMOD IV algorithms can be exercised in either nodal or zonal mode depending upon the scope, time frame, and simulation resolution that aligns with the decision focus.
Key Benefits
- Provides marketplace information through the ability to determine the effects of transmission congestion, fuel costs, generator availability, bidding behavior, and load growth on market prices
- Analyzes complexities and risks associates with transmission access to plant locations, power contracts, and unit production costs
- Integrates, as part of the PowerBase Suite, with MarketPower's capacity and long term market valuation
- Forecasts hourly energy prices, unit generation, revenues and fuel consumption, bus-bar and zonal energy market prices, external market transactions, transmission flows and congestion prices. Uses an hourly chronological dispatch algorithm that minimizes costs (or bids) while simultaneously adhering to a wide variety of operating constraints
- Integrates with PSS/E, PSLF, and PowerWorld to examine AC power flow analysis for select hours
Key Features
ZONAL
- Power Market Analysis
- Simulates market area under a variety of operating or market conditions
- Quantifies operating risks associated with each facility
- Develops detailed forecast of market prices and system operation under various conditions
- Performs long-term, transportation-based simulation of regional markets
NODAL CAPABILITY ADDS:
- Locational Marginal Price (LMP) Forecasting with congestion and loss components
- Financial Transmission Right (FTR), Congestion Revenue Right (CRR) and Transmission Congestion Contract (TCC) Valuation
- Renewable Energy Curtailment
- Economic Transmission Congestion Analysis
SIMULATION READY DATA
- Complete database for the power markets ready-to-run in PROMOD IV
- Detailed operating characteristics for all generating units, hourly load shapes and forecasts for each area, and a zonal transmission topology
- For nodal analysis, additional datasets available including detailed transmission topology, flowgate limits and contingencies, and LMP hub definitions
- For long-term analysis, Power Reference Case data may be added, which includes 25 year projections of fuel and emission costs, generic unit and zonal transmission expansion, and environmental retrofits and retirements
