In today's increasingly competitive and maturing deregulated energy market, there is a need for sophisticated software tools that can replicate the realistic behavior of power markets.

The dramatic changes in the structure of the electric power sector is subject to unprecedented price volatility. Companies in energy trading, generation and retailing recognize the need to collect and process information and forecast trends swiftly. This involves the collection and analysis of data from the market to generate accurate forecasts of demand, price and energy against various strategies and assumptions. The use of effective and efficient specialist applications becomes the backbone in the development and use of market and business data.

iEnergy supplies major generators and retailers in the Australian National Electricity Market with proven and advanced proprietary software systems to forecast market trends, manage risk and analyze market performance. The software systems incorporates advanced modeling approaches coupled with innovative IT implementation in support of forecasting and market analysis decisions critical to trading and utility operations.

Core Distinguishing Features

iPool is the market analysis, forecasting and planning tool that aggregated the power system simulation, market dispatch engine & power flow program into one definitive electricity market simulation system. (Click on the headings for more information.)

Bid Modelling iPool simulation utilizes bids that results to simulations more reflective of actual market reality in the forecasts and market sensitivities. The market bids/offers are loaded quickly from standard market data sources facilitated by proprietary IT data brokers & formats. These can be displayed in graphical and tabular forms, for viewing & modifying in the “what if” scenario analysis.Through the iBid module, the bids can be programmed to mimic the dynamic bid behaviour of the different generation portfolios resulting to an even more realistic market simulation.The accuracy of results raises the bar for the economic game theory-based models.

Cost Modelling In the market, the bids, not the plant cost structure, dictates the generation unit dispatch levels and consequently the way the plant will operate.The plant cost structure, though it can be used to substitute for or formulate the bid, it is mostly used in the calculation of the cost of the operation of the plant within the market scenario.The cost structure can include: Increment cost curve for fuel Start up cost curve Fixed O&M costs Variable O&M costs Capital Charges

Power System Modelling What makes the electricity market so much different from other commodities is the underlying market dynamics that characterizes the power system:the generators, the load and the network. iPool models each of the different components of the power system to the appropriate level of detail to support both short term market trading and long term system planning at relatively quick runs.

Generator Modelling Besides cost, numerous other aspects of the generators or the supply are modelled in the way it operates physically: its type of fuel, its availability and capacity levels.The following aspects can be modelled: Dispatchable and non-dispatchable generation Notional and Physical capacities Different types of generating plants Base Load Intermediate Peaking Plants Energy Limited Plants In addition, there is considerable amount of flexibility in modelling and specifying operating limits and characteristics of generation including half-hourly daily profiles of ramping limits, capacities, inflexible generation capacity and overload capacity.

Load Modelling iPool can model both dispatchable and non-dispatchable loads: Non dispatchable demand include the system demand as well as customer demand.  System demand can be specified for each site, node or region, or for the whole pool.The cost of supplying the demand is reported. Dispatchable demand are those that require demand bids to operate including the pump loads of pump storage plants.

Network Modelling iPool performs network solution consistent with the market code rules.Loss factor equations are user-defined.Through the iFlow module, system and link constraints can be specified as a function of time, generation, demand, flows and capacity of the objects in the pool.The following types of networks are modelled using a DC flow model: Radical networks Looped networks

Market Modelling As the market evolves, iPool models the changes in the market rules: with user-definable dispatch and trading resolutions, different bid formats and price bands, and different pool pricing mechanisms. Region and Zonal Pricing Nodal Pricing Uniform Pricing Cost based Pricing

Event Modelling Interacting with both the market and the power system modelling layers is the events modelling.The events model is key to the simulation’s realism and reflection of true market dynamics. The flexibility of iPool architecture is best demonstrated in its modelling of events. Events can be planned (user-defined); random, a function of a probability distribution; or conditional, a function of some other events or market condition.Events include unit outages, commissioning and retirement of capacity, upgrading of an inter-connector, temporary price caps in a region, changes in maximum or minimum capacity, changes in limits and changes in object property in general.

Speed iPool’s range of potential applications necessitate some balancing between simulation speed and simulation detail. iPool has flexible parameters that enable the user to decide both the speed and the level of detail of modelling.In cases where speed is required without compromising the level of detail, iPool may be implemented with parallel distributed processing capability.This implementation distributes the simulation of large number of samples among iPool registered computers in the network. The results obtained in a fraction of the time and are aggregated and presented as if it were run on single computer.

Our Mission

To help ANALYSTS & TRADERS IN THE ELECTRICITY MARKET

• FORECAST energy prices & revenues

• EVALUATE trading / bidding / operating strategies

• VIEW & USE market data easily