PLEXOS® Gas Model

PLEXOS® Gas Model

Simulation of electricity and natural gas prices in short term to long term:

  • Natural gas network price formation linked to Gas Powered Generation fuel costs
  • Pipeline congestion pricing from Well Heads to Natural Gas Hubs
  • Gas market integrated with competitive electricity market production cost models
  • Market driven production outputs for both gas and electricity sources
  • Fundamentals of Supply and Demand modelling for gas and electric
  • Hourly and sub hourly price forecasting for Day Ahead and Real Time Markets
  • Flexibility for assessments for gas electric systems

Natural Gas and Electric System Coordination

Coordination of both the Natural Gas and Electric sectors is critical for:

  • Least cost co-optimisation Opex and Capex of gas and electric system expansion
  • Combined economic benefit analysis for gas and electric rate payers
  • Strategic energy development for public policy and renewables integration
  • Valuation of gas and electric storage opportunities and dual fuel optimisations
  • Evaluation of gas and or electric contingencies that can impact reliability
  • Derating of gas powered generators due to gas network constraints
  • Assessing emerging gas constraints with generation retirements
  • Interregional market and asset development planning for gas and electric

Public Policy Assessments

Allows regulators and market participants to test public policy scenarios and asses risk and uncertainty for
least cost system development.

  • Integrated Resource Plans of gas and electric systems
  • Demand Response and Energy Efficiency
  • Renewables integration and Natural Gas development requirements
  • Environmental Policies and emission reduction and de-carbonisation

Co-optimisation of both Power & Gas Portfolio Assets

    Goal is to provide asset owners an integrated gas and electricity model that is straight-forward to use to
    inform business decisions.

  • Both system-planner (cost minimisation) and strategic (profit maximisation) solutions
  • Investment planning: Power Plant, Transmission Lines, Gas field, Gas Storage and Gas pipeline, dual fuel
    valuations and asset valuations with environmental retrots:
  • Capital cost of construction (builds cost, WACC, economic life, project start date, min/max build constraints)
  • Operating costs (fixed and variable)
  • Multi-year asset economic valuations and project finance valuations
  • Economic benefit, public policy, and reliability benefit analysis for gas and electric rate payers

Advanced Optimisation Methods

  • Proven power and natural gas market simulation tool
  • Uses mathematical programming, optimisation and stochastic techniques (MIP, LP, SO)
  • Robust analytical framework:
  • Security Constrained Unit Commitment and Economic Dispatch
  • Stochastic Renewable Energy Models
  • Stochastic Optimisation of Capacity Expansion
  • Sub-Hourly Ancillary Services
  • Monte Carlo Simulation Risk and Reliability Analysis
  • Portfolio Optimisation and Fuel Budget Minimisation
  • User selectable co-optimisations
  • Simultaneous solution of gas and electric market models
  • Natural Gas and Electric System models scalable to thousands of generators,
    transmission lines, sub stations, well heads, pipelines, and storages in zonal or
    detailed nodal network simulations.

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