TCR licenses ENELYTIX®1, a cloud-based market modeling environment, from its affiliate NEG. ENELYTIX offers a number of advantages over other simulation modeling tools such as PROMOD, PROSYM, GE MAPS and Aurora. Key advantages include:
- The ENELYTIX market engine does not rely on heuristics and therefore delivers truly optimized security-constrained unit commitment and dispatch solutions. Unlike competing tools that rely on simplified “pipes and bubbles” models (e.g., PROSYM, Aurora), ENELYTIX represents the full network topology of the system, optimally accounts for energy-limited resources, optimizes pumped storage operations and co-optimizes provision of energy and ancillary services;
- ENELYTIX simulates the day-ahead market as well as the real-time market and reflects the impact that uncertainty in day-ahead decisions has on real-time operations and prices;
- ENELYTIX models all ancillary services procured by an ISO with demand for these services set in accordance to current operating rules;
- ENELYTIX, through its use of parallelization technology and cloud environment, can complete simulations of multiple Cases each spanning over 15 years within one hour's time.
The ENELYTIX/PSO modeling environment is designed to provide a realistic, objective and highly defendable analyses of the physical and financial performance of power systems, in particular power systems integrating variable renewable resources. The critical advantage of PSO over traditional production costing modeling tools is its ability to model the concurrent dynamics of:
- uncertainty of future conditions of the power system;
- the scope, physical capabilities and economics of options available to the system operator to respond to these uncertain conditions;
- the timing and optionality or irreversibility of operator’s decisions to exercise these options.
ENELYTIX accurately models the decision processes used in a wide range of power planning and market structures including long-term system expansion, capacity markets, Day-ahead energy markets and Real-time energy markets. ENELYTIX has this capability because it can configure its market simulation engine, Power System Optimizer (“PSO”) developed by Polaris Systems Optimizations, Inc. (“Polaris”), to determine the optimum solution to each market structure. The figure below illustrates the four key components of the PSO analytical structure: Inputs, Models, Algorithms and Outputs.
Analytical Structure of ENELYTIX market simulation engine (PSO)
When configured as a system expansion optimization model, PSO integrates resource adequacy requirements with the specific design of the capacity market and with the environmental compliance policies, such as state-level and regional Renewable Portfolio Standards (RPS) and emission constraints. When configured as a production cost model, PSO is built on a Mixed Integer Programming (MIP) based unit commitment and economic dispatch structure that simulates the operation of the electric power system. PSO determines the security-constrained commitment and dispatch of each modeled generating unit, the loading of each element of the transmission system, and the locational marginal price (LMP) for each generator and load area. PSO supports both hourly and sub hourly timescales.
1 In 2016, NEG rebranded pCloudAnalytics (pCA) as ENELYTIX.