Power market modelling software
PLEXOS® Desktop Edition is proven power market modelling and simulation software that uses cutting-edge mathematical programming and stochastic optimisation techniques combined with the latest data handling techniques, to provide a robust analytical framework for power market modellers. PLEXOS® meets the demands of market participants, planners, investors, regulators and analysts with a comprehensive range of features delivered through an easy-to-use interface and powerful simulation engine.
Simulation software of choice
Since its first release in 2000, PLEXOS® has emerged as the power market modelling and simulation software of choice, with a customer base spanning the globe and including many of the world’s largest and most sophisticated utilities and system operators. PLEXOS simulation results are renowned for accuracy and robustness and have appeared in numerous publications, and are subject to regular and rigorous audit. In 2010 worldwide installations of PLEXOS® exceeded 200. End of June 2011 PLEXOS® commercial clients past 95 in 25 countries.
State of the art technology
- Using a combination of proprietary and commercial technologies PLEXOS®: Sets new standards for simulation accuracy, scope, mathematical rigor as well as affordability.
- Seamlessly integrates generation dispatch, unit commitment, optimal power flow and pricing simulations with stochastic modelling, renewables, emissions and ancillary services.
- Scales easily from single plant or portfolio optimisation to simulation of large-scale systems with thousands of generating units and transmission nodes.
- Optimises from single interval as short as 1-minute to daily, weekly, annual and multi-annual timeframes.
A flexible object-oriented design tightly integrated with state of the art optimisation tools allows PLEXOS® to provide unsurpassed functionality across these application areas:
- price forecasting
- generation forecasting
- budgeting analyses
- short-term unit commitment
- fuel budgeting
- trading and risk management
- transmission investment economic analysis
- congestion management
- nodal pricing
- outage planning
- capacity expansion planning
- hydrological modelling
- contract optimisation
- detailed (5-minute) production and transmission studies
- generation flexibility and ancillary services modelling
- smart load modelling
- investment analysis
PLEXOS® results are entirely auditable and comprehensive documentation is available, making it the perfect choice for market designers, regulators, consultants and researchers alike.
Features of the simulator
Detailed renewable and fossil generation technical-economical characteristics. Deterministic and stochastic unit commitment on/off decisions, random outages, temperature dependency and various autoregressive models for wind speed, solar radiation and natural inflows. Multiple fuels and Combined Cycle modelling details featuring non-convex heat rates, start-up/shutdown profiles, complex fuel transitions and operational modes.
Optimal power flow with losses fully integrated with dispatch and unit commitment. Security and n-x contingency constraints (SCUC), DC lines and phase shifters. Generic constraints and interface limits, transmission aggregation, Monte Carlo simulation, multiple AC networks, 10,000’s buses and lines, nodal pricing and price decomposition.
Planning Optimal generation and transmission expansion planning over 30+ year timeframe. Optimal NPV of investment and production costs, chronological expansion for detailed ramping, fast frequency control and replacement reserves investment opportunities. Stochastic 2-stage optimization support, LRMC, optimal emission target decommissioning, capacity payments and reliability indices.
Highly detailed cascading hydro networks featuring GIS visualization from Google Earth. Efficiency curves, head storage dependency, waterway flow delay times, spillways, evaporation, deterministic and Stochastic solutions over any horizon. Seamless integration with detailed short-term unit commitment via target volumes or future opportunity cost decomposition. Pump storage energy and ancillary market co-optimization.
Ancillary service provision co-optimised with generation dispatch and unit commitment. Detailed treatment of start-up and shutdown combined with ramping and reserve interaction minute-by-minute. Multiple reserve classes including spinning, regulation, up and down and replacement services.
Generation dispatch constrained by emission limits and/or reflective of emissions price and number of emission types. Flexible grouping for emission constraint sets over any timeframe including multi-annual.
An integrated gas-electric model allows detailed modelling of the physical delivery of gas from fields, through pipelines and storage to gas and electric demands. Gas and electric models are solved simultaneously allowing decision makers to trade-off gas investments, constraints and costs against other alternatives.
Comprehensive financial reporting to Generator, Region and Company level. Dynamic bidding of generation resources reflective of contract position and/or medium term revenue requirements based on recovery of build costs from capacity expansion planning. Bertrand and Cournot games, flexible user-defined mark-up definitions and automated schemes such as RSI.
Scope and Compatibility
Highly configurable timeframe and simulation interval as short as 1-minute. Choose between regional, zonal and full-nodal network detail. Multiple pricing, uplift and capacity payment options to support various market rules. Choice of commercial mathematical programming engines (CPLEX, Gurobi, MOSEK, Xpress-MP).
Quality tested to ensure the best product and fastest delivery
PLEXOS® is built using the “Agile” software development process to meet your demands while delivering the best working software and regularly to you. Read about our quality process in this document and how it can greatly benefit you.
Read about our quality process
PLEXOS® supports multiple licensing modes including:
- Standalone (node locked) licensing
- USB dongle
- Server-based licensing
PLEXOS® requires a licence for one of the third-party mathematical programming packages listed on our Partners page. These licences are provided with PLEXOS® by Energy Exemplar.
PLEXOS® software and some of the mathematical programming packages are free for academics, but must be registered with a degree-issuing academic institution.
In the last few years I have successfully used PLEXOS® for modelling different electricity markets. Its functionality and flexibility to model markets with different rules, the auditability of the optimization problems, the capability to model a market with different levels of detail within a single database, and the possibility of including your own custom-made algorithms through Open PLEXOS® sealed the deal for me.
Professor Esteban Gil
Universidad Federico Santa Maria
PLEXOS® is an incredibly important tool for any energy market practitioner. It’s fast, flexible and incredibly easy to get started with. The interface is user friendly and efficient to use. I don’t know where my company would be without it!
Dr. Ariel Liebman
Strategic Energy Market Services
PLEXOS® gives us the right combination of simplicity and complexity, allowing us to include all of the relevant features of the regions we are studying whilst retaining control over the size of the model. The model framework is flexible and transparent enough to allow us to build meaningful models very quickly, and enables us to easily develop our model as our knowledge of the market changes, as our interests evolve, and as our modeling skills improve.
Paul Andrew Holtom
PLEXOS® is a valued tool which provides CEZ with more insight into European power and carbon market dynamics. The analysis of fundamental drivers and their impact on the future balance of power systems is beneficial for both trading and investment decision purposes.
We are using PLEXOS® for some time now and are feeling comfortable because of its intuitive user interface as well of its solving capacities. Having complex models to be solved, PLEXOS® still computes the results in a fair period of time. The graphical solution viewer enables us to quickly check our models’ consistency. PLEXOS® helps us understand cause and effect of market characteristics.
Borusan EnBW Enerji
Need more information or to request a demo?
Please feel free to contact us to get more information about PLEXOS® or to request a demo.