“Mr Tao Guo to Represent Energy Exemplar LLC and PLEXOS®
at the June 2012 FERC Conference”
The Federal Energy Regulatory Commission or FERC, is an independent agency that regulates the interstate transmission of natural gas, oil, and electricity. FERC also regulates natural gas and hydropower projects. The June 2012, Technical Conference on Increasing Real-Time and Day-Ahead Market Efficiency through Improved Software will bring together diverse experts from ISOs/RTOs, non-market utilities, the software industry, government, research centers and academia for the purposes of stimulating discussion and sharing of information about the technical aspects of these issues and identifying fruitful avenues for research.
Mr Tao Guo, Manager of Tech Services for Energy Exemplar LLC has been awarded the opportunity as a guest speaker to present his paper titled ‘Evaluating the Wind/Solar Generation Variability and Forecast Error Mitigation Using Day-Ahead and Real-Time Market Interleaved/Sequential Simulations’ on Tuesday June 26th. The presentation will provide insights into the features and applications of PLEXOS® Day-Ahead and Real-Time capabilities. Attendees will have the opportunity to build their knowledge and learn more about PLEXOS® Simulator features in Mathematical Programming, Market Analysis, Wind Integration, Electric Price Forecast, Capacity Expansion Planning, Stochastic Optimization and much more.
Increasing wind and solar generation penetration in the deregulated markets presents a challenge to the market designer and operator. The Day-ahead (DA) market schedule produces hourly unit commitment schedule with the forecasted load, wind and solar generation. The real-time (RT) market dispatches the committed resources to accommodate the actual intra-hourly wind and solar generation that is different to that which was forecasted. The storage facilities are flexible resources that can be deployed in the real-time market for this purpose.
A DA-RT interleaved simulation algorithm is implemented in the Power Market Simulation software, PLEXOS®, to evaluate the effectiveness of the storage facilities to accommodate the wind and solar generation variability and forecast error. This feature is applied to value the benefit of a hydro-dominated utility participation in the MISO DA and RT markets. The interleaved run mode represents a significant technological advancement over traditional sequential DA-RT simulations.
This approach can be used to quantify the value of other measures in the markets to accommodate the wind and solar generation variability and forecast error: such as demand response programs, distributed generation facility, transmission expansion, etc. The operational reserve adequacy can be determined by using multiple-sample DA-RT simulation. In coupling with the stochastic optimization, the DA-RT interleaved stochastic unit commitment simulation will provide a means for the market designer to determine the committed on-line capacity with the least cost and risk.