fbpx

Generation And Ancillary Planning Tool

PowerSym is a tool for forecasting short-term and intermediate-term outcomes for electric generation wholesale suppliers. It is often used for optimizations such as fossil, hydro, or hybrid renewables. It is also utilized by utilities to show settlement within the ISO and without the ISO to justify to the state government the economic benefits of being in the ISO/RTO to the state rate payer.

Schedule Demo Now

PowerSYM

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.

Benefits

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

Functionality

FREQUENTLY ASKED QUESTION ABOUT ANCILLARY PLANNING TOOLS

This tool provides short-term and intermediate-term forecasting for electric generation wholesale suppliers, aiding in optimization and strategic planning.

By providing forecasts and insights on energy generation, the tool informs strategic decisions related to energy sourcing, production optimization, and market participation.

The tool can show settlement within and outside the ISO, demonstrating the financial advantages of being part of the ISO/RTO to state governments and ratepayers.

The tool can be used for optimizing various types of energy sources, such as fossil fuels, hydroelectric power, and hybrid renewables, leading to efficient power generation.

It provides data and forecasts that help utilities demonstrate the settlement process and the associated economic benefits of ISO/RTO participation to state governments.