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In April, 2007, the U.S. Federal Energy Regulatory Commission (FERC) conveyed a Technical Conference to Review Market Monitoring Policies. Although energy market monitors take different forms and perform differing functions, the energy market monitor functions upon which there was general agreement at the conference were:
· Identifying ineffective market rules and tariff provisions and recommending proposed rule and tariff changes,
· Reviewing and reporting on the performance of the wholesale markets, and
· Identifying and notifying FERC staff of instances in which a market participant's behavior may require investigation.
ADICA's EMCAS software is ideally suited for use in support of energy market monitoring and mitigation analysis. The U.S. Department of Energy’s Argonne National Laboratory designed EMCAS to meet the growing need for advanced modeling approaches that simulate how electricity markets evolve over time and how participants in these markets react to the changing physical, economic, financial, and regulatory environments in which they operate.
The short-term (hourly chronological) simulation mode of EMCAS is ideally suited for energy market monitoring and mitigation. The software is used to analyze which market participants are able to exert market power, under what conditions they can exert market power, and using what type of bidding strategies; as well as, for testing the effectiveness of alternative mitigation measures.
The long-term expansion mode of EMCAS is designed for generation investment planning within a market environment. The user can choose to execute an agent-based approach with individual company agents using profit maximization as their objective, or a dynamic programming approach based on system wide cost-minimization.
ADICA is worldwide distributor of the EMCAS software. Visit the ADICA website for additional information on energy market monitoring with EMCAS or to request an evaluation copy of the software.
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