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EMC's Market Simulation Service uses our proprietary simulation software, which replicates the functions of the NEMS’ real-time Market Clearing Engine1 to model a wide range of scenarios2 for clients.
For example, using data3 like forecasted demand, demand response bidding, offers from generators, as well as electricity dispatch network and system constraints, the simulation software can simulate movements in prices (wholesale electricity prices, locational marginal prices and/or ancillary service prices), or the impact of different conditions on dispatch quantities and system constraints.
Uses of Market Simulation Service
The Market Simulation Service offers a wide range of uses and benefits, including:
Trading or financial risk management
Operational planning and risk management
Analysis, research, or modelling
Feasibility testing or proof of concept (POC) for new programmes or projects
Users of Market Simulation Service
Potential users of the Market Simulation Service include:
Existing and new market participants of the NEMS
Existing and new participants of the electricity futures market
Energy consultants
Financial and/or energy traders
Large electricity consumers
Academics
Potential investors of the NEMS
For more information on the Market Simulation Service, please contact us at subscriptions@emcsg.com.
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1The Market Clearing Engine takes into account a full range of inputs, formulates the security constrained dispatch model as a mixed integer linear programming (MILP) problem, and maximizes social benefits to derive dispatch schedules and discover market prices
2Scenarios and disclosable outcomes are subject to approvals from the Energy Market Authority (EMA)
3Artifical and historical data will be used for simulation. By and large, most data inputs and scenarios can be modified and modelled (although there could be some software limitations for certain scenarios)