|[January 24, 2014]
New Release of AURORAxmp® Electric Market Model Offers Power Market Forecasters Major New Enhancements for Unit Commit and Dispatch Analysis
SANDPOINT, Idaho --(Business Wire)--
EPIS, Inc., a leading software developer of modeling and forecasting
tools for electric markets, has announced the release of AURORAxmp®
v11.3. AURORAxmp is the industry's most comprehensive solution for power
market resource/price forecasting, valuation, and analysis.
"AURORAxmp Version 11.3 offers several major enhancements to increase
confidence in commitment and dispatching of units, LMP forecasting, and
portfolio cost reporting," said John Scott, Chief Operating Officer at
EPIS, Inc. AURORAxmp v11.3 provides a powerful new option to use a
mixed-integer programming (MIP) optimization engine to solve unit
commitment. When running large regions with multiple pools or systems,
threading is used to simultaneously solve included pools and
dramatically reduce run time. "This is ideal for applications like fuel
budgeting, production costing, or when precise hourly unit commitment
and dispatch patterns are needed for individual units," said Scott.
For nodal simulations, v11.3 users can now make use of generator shadow
prices to inform the hourly commitment decisions with either economic
(self) or reliability (pool) based commitment methods. The linear
program which finds the optimal nodal solution each hour returns shadow
pricesfor each generator, revealing the impact of running that
generator on the total system cost. "It provides many benefits of a
security-constrained unit commitment (SCUC) without the corresponding
penalty in run-time," said Scott.
With v11.3, AURORAxmp now supports either MOSEK or Gurobi optimization
engines. This gives users more choices in managing the trade-offs
between speed and cost. For optimization-intensive runs, like the
MIP-based commitment optimization, Gurobi, which is available as an
option, shows a significant run-time advantage.
Some of the many other v11.3 enhancements announced by EPIS, include:
Enhanced LT capacity expansion logic for more control in capacity price
formation; a "load only" option for clear reporting of the cost
associated with serving native load only in portfolios; a new
enhancement to the uplift calculator that calculates the smallest uplift
necessary to make all unit commitments whole; enhancements to calculate
and report the marginal cost of losses across all branches in the
system; and a more intuitive user interface that provides clearer
organization for setting up a run.
About EPIS, Inc.
Headquartered in Sandpoint, Idaho with offices in West Linn, Oregon,
Stuart, Florida, and Salt Lake City, Utah, EPIS, Inc. is the developer
of the AURORAxmp® Electric Market Model, the industry's most trusted
software package for reliable electric-market price forecasting,
resource valuation and market-risk analysis. AURORAxmp is a power market
simulation tool designed to forecast power prices over both the
short-and long-term. At the core of the product, is an extremely fast,
hourly-dispatch engine that simulates the dispatch of power plants in a
chronological, multi-zone, transmission-constrained system. The software
includes an input database provided by EPIS that can also be easily
supplemented with the user's own data, or external data sources. First
introduced in 1997, AURORAxmp is now the modeling tool of choice for
power marketers, resource planners, regulatory agencies, financial
analysts and energy consultants throughout the North America, Europe,
Middle East and Asia. Visit www.epis.com.
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