Energy Exemplar Power Market Simulation Software
Energy Exemplar is a leading developer of power market simulation software with a customer base spanning the globe. From humble beginnings as Drayton Analytics, and later expanding globally as Energy Exemplar, the company is focused on the development, support and application of its class-leading PLEXOS for Power Systems® software. Dedicated teams provide technical, consulting and implementation support.
Our company continues to ‘push the envelope’ in being the first-to-market with the latest advances in mathematical programming, electric price forecasting and power market simulation theory, as it strives to offer the most comprehensive simulation software to its customer base.
PLEXOS for Power Systems® – power market simulation software
Energy Exemplar’s major software product, PLEXOS, is a truly next-generation power market simulation software. Over the years, PLEXOS has evolved into a successful and competitive fundamental power market simulation tool that uses cutting-edge data handling and mathematical programming, and stochastic optimisation techniques to provide a robust analytical framework for power market analysis. PLEXOS results are entirely auditable and comprehensive documentation is readily available, making it the perfect choice for market designers, regulators, consultants and researchers alike. Some of the functions that PLEXOS is used for include:
- Price forecasting
- Capacity expansion planning
- Power market simulation and analysis
- Detailed operational planning and optimisation of power plants and grid
- Trading and strategic decision support
- Generation and transmission capacity expansion planning (investment analysis)
- Renewable integration analysis
- Co-optimisation of ancillary services and energy dispatch
- Transmission analysis and congestion management
- Portfolio optimisation and valuation
- Risk management and stochastic optimisation
Electricity price forecasting
From day-ahead clearing prices to long-term price forecasts, PLEXOS rigorous fundamental market framework offers unparalleled options for electric price forecasting, starting from cost-based short-term marginal costs to competitive bidding based on game theory or LRMC recovery.
Capacity expansion planning
PLEXOS provides optimal generation and transmission expansion planning over any timeframe. Its capacity expansion planning module has been built into the comprehensive production model, allowing users to control the desired level of accuracy of their production cost model without the need to create complex external integration loops between decoupled modules.
Generation and transmission asset valuation
The extensive range of detailed operational characteristics allows PLEXOS to provide the most accurate asset performance valuations in any market situation, optimising both generation and transmission asset capabilities and providing a fundamental and highly advanced technical breakthrough.
Market analysis and design
Examine the effect of the range of proposed market developments and regulations on generation mix, inter-regional flows, prices and profits.
PLEXOS is used extensively by transmission system operators (TSO) to examine and optimise transmission operation and congestion costs. Optimal power flow with losses fully integrated with dispatch and unit commitment, with such features including:
- Large connection of multiple AC networks; tens of thousands of buses and lines
- Security and n-x contingency constraints (SCUC), DC lines and phase shifters
- Generic constraints and interface limits, transmission aggregation, network reduction
- Nodal pricing and decomposition into energy, congestion and marginal loss components
The powerful portfolio optimisation engines underlying PLEXOS allow users to ensure they make the most of their generation assets, contractual terms and limited resources in an uncertain world.
This ensures decisions are robust to the uncertainty in future inputs, including fuel prices, load growth, renewable uptake and generation. PLEXOS features integrated stochastic optimisation of building decisions, hydrology operating policies, transmission expansion and unit commitment.
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.
Globally recognised simulation software
The wide range of features of PLEXOS has led to its use in many areas of the energy sector and across every region of the world for electricity market modelling, planning, and portfolio optimisation. Globally, the types of users of PLEXOS include:
- Power generation companies
- Transmission system operators
- Electricity market operators
- Energy commission and regulators
- Energy traders
- Price forecasting agencies
- Power plant manufacturers
- Power plant construction companies
- Academics and research institutions
Simulation software of choice
Since its first release in 2000, PLEXOS has emerged as the power market’s 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. As of the end of June 2013 worldwide installations of PLEXOS exceeded 760 at over 140 sites in 35 countries.
Energy Exemplar can provide commercial datasets for modelling in the regions of North America, Europe, Asia-Pacific, Africa and South America.
For more information on commercial dataset fees and conditions, please contact us.
Products and Services
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