PowerSym is a tool for forecasting short-term and intermediate-term outcomes for electric generation wholesale suppliers. The forecast period can range from next hour to three months or longer. PowerSym uses a set of forecast hourly market-clearing prices to predict these outcomes with a high degree of accuracy. Each generation resource is to be modeled along with all relevant costs, constraints, availability, status, and other significant factors.
PowerSym will respect modeling factors as binding constraints on the operation of the power source. The product will maximize the dollar profit within the bounds of all constraints and within the least processing time possible. PowerSym starts with a straight-forward calculation of hourly operation. This forecast is then tested for constraint violation. Where a constraint is not satisfied, PowerSym evaluates every reasonable dispatch alternative for the period surrounding the violation. The solution selected is the most profitable solution that satisfies all constraints. Multiple passes are used so as to allow different algorithms to correct for different types of violations. Outcomes are determined independently for each source, except for those special predefined cases where operating costs are dependent on other sources.