Title :
LMPSIM - a chronological simulator for security constrained LMP-based electricity markets
Author_Institution :
Power Technol. Inc., Schenectady, NY, USA
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;
Conference_Titel :
Power Engineering Society General Meeting, 2003, IEEE
Print_ISBN :
0-7803-7989-6
DOI :
10.1109/PES.2003.1267221
