LMPSIM - a chronological simulator for security constrained LMP-based electricity markets

Software designed to model electricity markets should accurately model the properties of the transmission system, such as power flow and security constraints, which have a fundamental effect on the market behavior and LMPs. PTI has developed a chronological market simulator called LMPSIM which addresses the needs of industry for a transmission-based, flexible market simulator. This simulator can be used for performing market studies such as physical and financial asset valuation, gaming and market power analysis, and determination of the economic benefits of infrastructure expansion.