Market monitoring and performance evaluation - building a market simulator tool

Author

Galarza, Ricardo J. ; Gisin, Boris S. ; Mitsche, James V. ; Balser, Steven J.

Author_Institution

Power Technol. Inc., Schenectady, NY, USA

Volume

2

Issue

6

fYear

2004

Firstpage

46

Lastpage

54

Abstract

This work presents a software tool that was developed for market monitoring and performance evaluation as well as other applications in planning and market design. Called PROBE (Portfolio Ownership Bid Evaluation), it includes the network model and schedules/optimizes all type of bids and market products in a complex and congested market. The design is in compliance with FERC´s standard market design. A great variety of outputs allows for market analysis, determination of potential market power, portfolio analysis, and sensitivity analysis.

Keywords

optimisation; power engineering computing; power markets; power system economics; software tools; FERC standard market design; PROBE; Portfolio Ownership Bid Evaluation; market analysis; market design; market monitoring; market power; market simulator tool; performance evaluation; portfolio analysis; sensitivity analysis; software tool; Algorithm design and analysis; Analytical models; Computational modeling; Condition monitoring; Information analysis; Performance analysis; Portfolios; Power generation economics; Power system reliability; Probes;

fLanguage

English

Journal_Title

Power and Energy Magazine, IEEE

Publisher

ieee

ISSN

1540-7977

Type

jour

DOI

10.1109/MPAE.2004.1359024

Filename

1359024