LMPSIM - a chronological simulator for security constrained LMP-based electricity markets

Author

Lane, Derek W.

Author_Institution

Power Technol. Inc., Schenectady, NY, USA

Volume

1

fYear

2003

fDate

13-17 July 2003

Abstract

Software designed to model electricity markets should accurately model the properties of the transmission system, such as power flow and security constraints, which have a fundamental effect on the market behavior and LMPs. PTI has developed a chronological market simulator called LMPSIM which addresses the needs of industry for a transmission-based, flexible market simulator. This simulator can be used for performing market studies such as physical and financial asset valuation, gaming and market power analysis, and determination of the economic benefits of infrastructure expansion.

Keywords

power markets; power system security; power system simulation; power transmission economics; software engineering; LMPSIM; PTI; chronological market simulator; economic benefit determination; electricity markets; financial asset valuation; flexible market simulator; gaming; infrastructure expansion; location-based marginal markets; market behavior; market power analysis; market studies; power flow; security constraints; transmission system; Economic forecasting; Electricity supply industry; Load flow; Power generation economics; Power markets; Power system economics; Power system modeling; Power system security; Power system simulation; Uncertainty;

fLanguage

English

Publisher

ieee

Conference_Titel

Power Engineering Society General Meeting, 2003, IEEE

Print_ISBN

0-7803-7989-6

Type

conf

DOI

10.1109/PES.2003.1267221

Filename

1267221