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News
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LCG, August 14, 2024 – LCG Consulting (LCG) has released its annual outlook of the ERCOT wholesale electricity market for 2025, highlighting the region's rapid transition toward increased reliance on renewable energy resources and battery storage.
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LCG, August 14, 2024 – LCG Consulting (LCG) has released its annual outlook of the ERCOT wholesale electricity market for 2025, highlighting the region's rapid transition toward increased reliance on renewable energy resources and battery storage.
Read more
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Press Release
Integrated Generation and Transmission Model for Locational Marginal Price (LMP) Analysis, Fully Compliant with FERC Order 2000 and Standard Market Design (SMD)
LCG Consulting, Los Altos, California, June 26, 2002 – LCG has released UPLAN-Network Power Model (NPM), which is fully compliant with the newly announced FERC Standard Market Design (SMD)1 and meets all the functional requirements of Regional Transmission Organization (RTO) proposed in the FERC Order 20002 . The model can accurately dispatch generators as well as forecast Locational Marginal and Zonal prices. Locational Marginal Prices (LMP) is the basis for congestion management in the proposed SMD and currently used in many RTO/ISO including PJM and NYISO. SMD and RTOs are gaining increasing acceptance and may become a standard feature soon in ISO-NE, MISO and other areas across North America.
"UPLAN- NPM is currently the only model that meets all the functional requirements of FERC Order 2000 and fulfills the SMD specifications," says Rajat Deb, President. "UPLAN's Security Constrained Unit Commitment (SCUC)3 and Security Constraint Economic Dispatch (SCED) for real-time dispatch meet all the requirements of NYISO, ISO-NE and PJM. It is the only commercially available true LMP model .”
UPLAN-NPM uses an Optimal AC/DC Power Flow algorithm with an embedded full-fledged contingency analysis package for real-time generator dispatch to manage congestion and determine LMP. The real-time dispatch algorithm is compatible with the programs used by most of the ISO/RTOs in the U.S.
In UPLAN-NPM, a multi-area multi-commodity Nash equilibrium algorithm simulates the day-ahead market and determines the forward electricity prices as well as ancillary service prices such as regulation, spinning, reserve and capacity prices. In benchmark tests for several NERC regions, UPLAN-NPM has faithfully replicated the actual market operations, the opportunity-cost based prices for energy and ancillary services and the actual dispatch of the generators.
LCG has also released an enhanced database of electric Plants, Loads, Assets, Transmission, and Operations (PLATO) for all North American Reliability Council (NERC) regions to accompany UPLAN-NPM.
For further information in North America, please contact us at 650-962-9670x110 / [email protected].
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References:
1.The recently proposed “Standard Market Design” (SMD) for wholesale electric markets (under FERC docket number RM01-12-000) includes two discussion papers that have been issued: “Working Paper on Standardized Transmission Service and Wholesale Electric Market Design” (issued March 15, 2002) and a “Notice of Options” Paper (issued April 10, 2002). FERC intends to issue a Notice of Proposed Rulemaking (NOPR) by summer 2002. The SMD proposes a day-ahead forward model to determine LMP for energy and ancillary services for scheduling generating plants to meet anticipated energy and reserve requirements. SMD also proposes congestion management based on LMPs and losses based on load flow simulation. Descriptions of the UPLAN models and PLATO database can be found in our web site: http://www.energyonline.com/Products/Software.aspx and
http://www.energyonline.com/Products/Plato.aspx.
2. FERC Order No. 2000 specifies a number of functions that must be performed by Regional Transmission Operators (RTO). Each of these required RTO functions is likely to interact with the others and impact the power market prices. The UPLAN Network Power Model has been designed to provide the necessary integration, technical accuracy and flexibility to analyze these effects. A recent study co-sponsored by the Electric Power Research Institute (EPRI) contains several example cases that illustrate how UPLAN can be used to model the RTO functions in the Eastern Interconnect.
3. The proposed rule for NYISO and comparison with other areas such as RTO West, MISO, and CAISO are described in the article, “A Vision for Transmission: How the RTOs Stand on Market Design and Where the Trouble Spots Lie in FERC’s Grid Plan” by Bruce W. Radford and Lori A. Burkhart, Public Utilities Fortnightly, August 2002. In particular, FERC OK’d new automatic mitigation procedures (AMP) for the NYISO for market monitoring and price mitigation. The AMP model involves a complex series of computer SCUC (Security Constrained Unit Commitment) runs. For further details, refer to the Fortnightly article.
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UPLAN-NPM
The Locational Marginal Price Model (LMP) Network Power Model
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UPLAN-ACE
Day Ahead and Real Time Market Simulation
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UPLAN-G
The Gas Procurement and Competitive Analysis System
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PLATO
Database of Plants, Loads, Assets, Transmission...
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