Title :
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
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;
Journal_Title :
Power and Energy Magazine, IEEE
DOI :
10.1109/MPAE.2004.1359024
