PLEXOS Integrated Energy Model - Energy Exemplar

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Information about PLEXOS Integrated Energy Model - Energy Exemplar

Published on February 19, 2014

Author: tarunreddyk


PLEXOS® Integrated Energy Model Lea d ing the f ie ld i n Energy Market Modelling

Wh at P L E XO S ® I nte grate d E n e rg y M o d e l i s PLEXOS® Integrated Energy Model (PLEXOS Desktop Edition) is a proven power market simulation software that uses cutting-edge mathematical programming and stochastic optimisation techniques, combined with the latest user-interface and data handling approaches to provide the most comprehensive, easy-to-use and robust analytical framework for power market modellers. Fu n c t i o n s a n d a p p l i cat i o n s o f P L E XO S Below is a categorisation of some of the functions that PLEXOS is used for: • • • • • • • • • • Price Forecasting Power Market Simulation and Analysis Detailed Operational Planning and Optimisation of Power Plants and Grid Trading and Strategic Decision Support Generation and Transmission Capacity Expansion Planning (Investment Analysis) Renewable Integration Analysis Co-optimisation of Ancillary Services and Energy Dispatch Transmission Analysis and Congestion Management Portfolio Optimisation and Valuation Risk Management and Stochastic Optimisation The wide range of features of PLEXOS has led to its use in many areas of the energy sector. Globally, the types of users of PLEXOS include: • • • • • • • • • • Power Generation Companies Transmission System Operators Electricity Market Operators Energy Commission and Regulators Energy Traders Price Forecasting Agencies Power Plant Manufacturers Power Plant Construction Companies Consultants Academics and Research Institutions

S i m u l at i o n an d fo re c a s t i n g s o l u t i o n o f c h o i ce Since its first release in 2000, PLEXOS has emerged as the power market simulation tool of choice, with a customer base spanning the globe and including many of the world’s largest and most sophisticated utilities and system operators. PLEXOS simulation results are renowned for accuracy and robustness and have provided the quantitative backbone to numerous publications, expert testimony, benchmarks, policy documents and thought leadership pieces. Trusted worldwide to provide the insights and market analysis required by generation companies, regulators, system operators, transmission companies and independent analysts PLEXOS is the solution of choice for: • Electricity Price Forecasting – From day-ahead clearing prices to long-term price forecasts, PLEXOS rigorous fundamental market framework offers unparalleled options for price forecasting. Starting from cost-based short-run marginal costs to competitive bidding based on game theoretic models, empirical models or heuristic methods. • Capacity Expansion Planning – Optimal generation and transmission expansion planning over any timeframe. PLEXOS expansion utility has been built into the comprehensive production model, allowing users to control the level of accuracy of their production cost model without the need to create complex external integration loops between decoupled modules. • Generation and Transmission Asset Valuation – The extensive range of detailed operational characteristics allow PLEXOS to provide the most accurate asset performance valuations in any market situation. • Market Analysis and Design – Examine the effect of a range of proposed market developments and regulations on generation mix, inter-regional flows, prices and profits. • Transmission Analysis – PLEXOS is used extensively by Transmission System Operators (TSO) to examine and optimise transmission operation and congestion costs. • Portfolio Optimisation – The powerful optimisation engines underlying PLEXOS allows users to achieve the best possible outcome from their generation assets, contractual terms and limited resources in an uncertain world. • Stochastic Optimisation – This ensures decisions are robust with respect to the uncertainty in future inputs including fuel prices, load growth, renewable uptake and generation. PLEXOS includes integrated stochastic optimisation of building decisions, hydrology operating policies, transmission expansion and unit commitment. PLEXOS I nte grate d E n e rg y M odel ®

Simulator Features Co nve nt i o n al G e n e rat i o n PLEXOS offers over 150 potential technical-economical generation characteristics ensuring accurate representation on generation operation and more features such as: • • Deterministic and stochastic unit commitment on/off decisions with random and foreseeable outages • Temperature dependent operation and detailed ramping response behaviour • Multiple fuel optimisation with complex fuel transitions and operational modes • • Compartmentalised combined cycle modelling featuring non-convex heat rates, start-up/shutdown profiles and unit operational dependencies H yd ro M o d e l l i n g Full representation and optimisation of realistic cascading hydro networks and generators featuring GIS visualisation from Google Earth and more features such as: • • Efficiency curves, head storage dependency, waterway flow delay times, spillways, evaporation, deterministic and stochastic solutions over any horizon • • Seamless integration with detailed short-term unit commitment via target volumes or future opportunity cost decomposition • • Potential Energy model for simple closed-loop systems or water balance ‘Volume’ or ‘Level’ models for complex cascade hydro networks • Pumped storage energy and ancillary services market co-optimisation I nte r m i t te nt R e so u rce M o d e l l i n g ( Wi n d a n d S o l a r ) Evaluate the full effect of intermittent resources on system operation, market prices or generation plant valuation and more features such as: • • • Capacity to model one minute level variations in load or generation caused by intermitted resources and the effect on system stability, ancillary service and ramping provision • Various autoregressive models for wind speed, solar radiation and natural inflows • Stochastic optimisation of forecast uncertainty Gas Modelling Fully integrated energy model cooptimises electricity and gas system dispatch. Includes models of gas fields, storages, pipelines, nodes and gas demands and more features such as: • • Integrates with long-term planning to produce expansion plans for gas and electric infrastructure • • Models constraints on short and mid-term gas supply and its impact on electricity production

An c i l l a r y S e r v i ce s Ancillary service provision co-optimised with generation dispatch and unit commitment and more features such as: • • Multiple reserve classes including spinning up and down, regulation up and down, and replacement services • • Detailed treatment of start-up and shutdown combined with ramping and reserve interaction minute-by-minute Em i ssi o n s Generation dispatch constrained by emission limits and/or reflective of emissions price and number of emission types and more features such as: • • Optimisation of emission allocations over multiple fuels, generating units and regional rules • • Flexible grouping for emission constraint sets over any timeframe including multi-annual Tran sm i ssi o n Optimal power flow with losses fully integrated with dispatch and unit commitment, and more features such as: • Large connection of multiple AC networks, 10,000’s buses and lines • Security and n-x contingency constraints (SCUC), DC lines and phase shifters • • Generic constraints and interface limits, transmission aggregation, network reduction • • Nodal pricing and decomposition into energy, congestion and marginal loss components Fi n an c i a l Comprehensive financial reporting to Generator, Region and Company level and more features such as: • • • Dynamic bidding of generation resources reflective of contract position and/or medium term revenue requirements based on recovery of build costs from capacity expansion planning • • Bertrand and Cournot games, flexible user-defined mark-up definitions and empirical schemes such as Residual Supply Index (RSI) • Physical, Financial and Fuel contract obligations • Financial transmission rights (FTR) and Settlement Residue Auction (SRA) PLEXOS I ntegrate d E n e rg y M o d el ®

S co p e an d Co m p at i b i l i t y Highly configurable timeframe and simulation interval as short as one minute and more features such as: • Choose between regional, zonal and full-nodal network detail • • Multiple pricing, uplift and capacity payment options to support various market rules • • Choice of commercial mathematical programming engines (CPLEX, Gurobi, MOSEK, Xpress-MP) Conve nt i o n a l G e n e rat i o n

Tra n s m i s s i o n Cu sto m i zat i o n PLEXOS COM libraries and OpenPLEXOS automation features allow user execution control from simple external PLEXOS engine calls, custom pricing schemes to advanced custom algorithm calls at different runtime stages. PLEXOS features a friendly generic custom constraints builder that allows users to introduce custom expansion and operational limitations such as expansion reliability policies, transmission proxies, water irrigation conventions and more. D at a M a n a ge m e nt Long-term to short-term ready to execute models can co-exist in the same integrated database. Import/export from known industry standards help users get started with PLEXOS quickly and easily. PLEXOS I nte grated En ergy M o de l ®

Wh at PL E XO S ® Co n n e c t is PLEXOS® Connect is the distributed, client-server system to complement the PLEXOS Desktop Edition simulation tool. The product enables users to: • Collaborate in preparing input data for simulations • Track changes to input data and maintain a version history. • • Distribute simulations for parallel execution over multiple client computers or to the cloud • Remotely manage distributed simulation jobs • Easily share, compare and review simulation results PLEXOS Connect allows you to control which computers jobs run on, the version of input data used, and even the version of the simulation engine. This allows you to keep a complete history of inputs, simulation engines and solutions. There are three main components in PLEXOS Connect: P L E XO S Co n n e c t S e r ve r The server is the centralised data-storage manager. It resides in the core of the network system and controls the data security, network configuration, permission hierarchy and simulation engine version control. P L E XO S Co n n e c t C l i e nt Clients query the server for inputs to perform simulations. All PLEXOS execution jobs queued on the server are dispatched to these computers for execution. On completion, the results are sent back to the server for storage and retrieval. P L E XO S Co n n e c t L a u n ch Co nt ro l Launch Control is the interface used to configure executions, retrieve/upload datasets and solutions, modify network configuration, administrate permissions and more. It can be used from a remote computer, client computer or within the server itself.

C l i e nt s S er ver Perform PLEXOS® executions. Data-storage manager. R esults Configure all simulation executions from here. R es ul ts La u n c h Co nt ro l Data s et & Engine Dataset & Engi ne Sys te m Arc h i te c t u re L a u n c h Co nt ro l I nte r fa ce

Leading the field in Energy Market Modelling Energy Exemplar Pty Ltd Energy Exemplar Ltd Software Development Europe Office 3/ 154-160 Prospect Road, Prospect, Adelaide SA 5082 Australia Tel: +44 208 899 6500 Email: Tel: +61 8 8342 9616 Email: Energy Exemplar LLC Energy Exemplar LLC West Coast USA Office East Coast USA Office Tel: +1 916 304 0555 Email: Tel: +1 860 461 0761 Email: e n e r g ye xe m p l a r. c o m

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