The role of analytical modeling and advanced software in a restructured environment

In this presentation, the requirements for analytical modeling and software development to support the emerging energy market place were discussed in detail. Emphasis was placed on the optimization technologies required to meet the current market design as it has emerged in various restructured energy systems. Further, the presentation focused on the need to deploy full network models (FNMs), enforce all network constraints and calculate LMPs at each network bus. The expectation is that the resulting optimal dispatch is accurate and realistic at the resource level. A contract was clearly drawn between the traditional requirements for EMS applications and requirements for the emerging energy market designs.