Overview of the Generation- - Overview of the Generation Transmission Maximization Transmission Maximization (GTMax) Model (GTMax) Model The Premier Analysis Tool The Premier Analysis Tool f or Deregulated f or Deregulated Electricity Markets Electricity Markets Argonne National Laboratory Argonne National Laboratory Center for Energy, Environmental, and Center for Energy, Environmental, and Economic Systems Analysis Economic Systems Analysis
Around the World, Deregulation is Fundamentally Changing the Way Electricity Markets Function Past Future Past Future Natural Monopoly Natural Monopoly Open Market Open Market Vertically Integrated Vertically Integrated Generation Generation Generation Generation Present Present Unbundled Unbundled Transmission Transmission Transmission Transmission Transition Transition Phase Phase Distribution Distribution Distribution Distribution
The Traditional Markets Are Dominated by Single, Vertically- I ntegrated Energy Companies Customers The Traditional Utility Company
The New Deregulated Energy Marketplace I s Far More Complex and Has Many More Players Customers Generation Companies LDC PX ISO LDC Load Aggregators Brokers
Argonne Developed GTMax to Study the Complex Marketing and Operational I ssues in Today’s Deregulated Power Markets GTMax Can be Used by Dif f erent Market Agents in Support of their Analytical Needs ● Generation Companies, I ndependent Power Producers, and Power Merchants ● Transmission Companies, I ndependent System Operators, and Power Exchanges ● Government, Regulatory, and Oversight Bodies
Generation Companies, I ndependent Power Producers, and Power Merchants ● Use GTMax to estimate how much power each unit will generate and how much power they can sell in each hour at what price ● Use GTMax to estimate purchases and sales f rom long- term f irm contracts and I PP agreements ● Use GTMax to study if their investment in power or transmission assets will yield an attractive return ● Use GTMax to develop a sound market strategy - when should they buy and/ or sell power in the spot market
Transmission Companies, I ndependent System Operators, and Power Exchanges ● Use GTMax to estimate the locational hourly market clearing price f or energy at dif f erent points in the network ● Use GTMax to estimate the projected available transmission capability on individual links or user- specif ied paths each hour in the region f or posting on OASI S systems ● Use GTMax to determine the optimal path of contractual power f lows ● Use GTMax to identif y operational and network bottlenecks and the marginal value of relieving system obligations and constraints ● Use GTMax to conduct screening and siting analyses f or new transmission lines
Government Agencies and Regulatory or Oversight Bodies ● Use GTMax to analyze dif f erent bidding behaviors or strategies and game playing and the impacts on the markets (market power) ● Use GTMax to study open market policies ● Use GTMax to simulate the ef f ects of environmental and institutional limits on power plant operations and compute compliance costs ● Use GTMax to analyze the value of demand- side management and distributed generation resources
GTMax Objective ● Maximize the economic or f inancial value of an electric utility system within physical and institutional operating constraints Spot Markets & ● Electric utility system Firm Contracts Are Driving the System – Hydro and t hermal power plant s – Firm purchase and sales cont ract s – Spot market int erconnect ions System Dispatch & Plant Operations – Cust omers (elect ricit y demand) Must Respond to the Market – Transmission and dist ribut ion syst ems ● Physical and institutional constraints – Capacit y – Technical minimum – Ramping limit s (change in operat ions over t ime) – Reservoir limit s
GTMax Balances Supply & Demand (Simplif ied Example) 100 Market Clearing Price [$/MWh] 90 80 Supply High Prices Result in Demand Curtailments Demand 70 60 Market Clearing Price 50 Due to transmission congestion this point 40 must be determined 30 for each zone or region 20 Generators are Loaded 10 According to Marginal Production Costs or MARKET BID PRICE 0 0 100 200 300 400 500 600 700 Demand [MWh]
GTMax Operates at a One Hour Time- Step and Takes into Account Many I nput Variables Hydro & Thermal Hydro & Thermal Operat ional Operat ional Spot Market Spot Market Firm Firm Hydro Cascade Hydro Cascade Hydro & Thermal Operat ional Spot Market Firm Hydro Cascade Resources Resources Rest rict ions Pr ices Pr ices Cont ract s Specif icat ions Rest rict ions Cont ract s Specif icat ions Resources Rest rict ions Pr ices Cont ract s Specif icat ions GTMax GTMax GTMax Tr ansmission Tr ansmission Tr ansmission Demand & Demand & Demand & & Dist ribut ion & Dist ribut ion & Dist ribut ion Curt ailment s Curt ailment s Curt ailment s Model Model Model Syst em Syst em Syst em Cont ract ual Cont ract ual Cont ract ual Value of Energy Value of Energy Value of Energy Hour ly Pur chase Hour ly Pur chase Hour ly Pur chase Power Flows Power Flows Power Flows & Energy Savings & Energy Savings & Energy Savings Gener at ion Gener at ion & Sales & Sales Gener at ion & Sales Unit Revenues & Reservoir Unit Revenues & Reservoir Unit Revenues & Reservoir Commit ment s Expenses Operat ions Commit ment s Expenses Operat ions Commit ment s Expenses Operat ions
GTMax Uses a Network of Nodes & Links to Represent a Power System ● Nodes – Thermal & hydro power plant – Firm purchases & sales cont ract s D I S T R I B U T I O N – Spot market int erconnect ions Hydro D e m a n d – Power int erchange point s Spot C e n t e r s Market – Heat product ion GENERATION – Elect ricit y & heat demand Thermal Firm Contract ● Links Sub – Transmission lines TRANSMISSION Station – River syst ems Interchange – Heat f lows
There are Several Types of Supply Resources in the Model ● Thermal units ● Hydro power plants (limited energy) – Run-of -river – St orage – Pumped st orage – Hydro plant s can be specif ied in a cascade – Wat er is spilled (non-power release) under some condit ions ● Long- term f irm purchase contracts & I ndependent Power Producer (I PP) contracts ● Spot market purchases ● Combined Heat & Power Plants
GTMax Has Detailed Thermal & Hydro System Representations ● Power plant or unit capacity ● Marginal production cost or bid price by block ● Total energy release in a week period ● Daily minimum & maximum energy ● Change in daily energy production ● Minimum hourly output ● Maximum hourly output ● Hourly up & down ramp rate restrictions – Change in generat ion f rom one hour t o t he next ● Daily up & down ramp rate restrictions – Change in generat ion over a 24 hour period
The GTMax Hydropower Dispatch is also Constrained by Reservoir Limitations ● Maximum reservoir elevation level ● Minimum reservoir elevation level ● Daily reservoir elevation change ● Change over a 2- day & 3- day period ● Elevation levels are f unctions of : – I nit ial reservoir condit ions – Hourly up-st ream reser voir releases – Side f lows – Pumped wat er f rom a lower r eservoir – Hourly reser voir releases – Wat er ext ract ed f or irrigat ion of ot her uses – Elevat ion change per volume of wat er released
Supply Resources Satisf y Dif f erent Types of Demands ● Service territory load centers ● Firm contract loads (if any) ● Spot market demands (if economical) ● Heat demands ● Note: Additional electricity must be produced because of T&D losses
The Transmission System Links Dif f erent Types of Activities Thermal Uintah Generation Fontenelle Ault WCD Craig Archer Hydro Flaming Hayden Northern Generation Gorge Spot Market Vernal Exchange Rifle Salida Bonanza Cascade Midway/ Montrose Poncha Pueblo Purchase Contract Sales Contract Glen 4 Corners Canyon Southern Spot Market New Demand/ Pinnacle Mexico Customers Peak Overlay of a U.S. Utility Palo Verde Spot Market System on a Transmission Rio Exchange Grande System Map
GTMax Employs a User- Friendly Geographical I nf ormation System (GI S) I nterf ace Demand Hydro & Thermal Plants Substation Pumped Storage Hydro Cascade Spot Market Delivery Point Transmission
GTMax Accounts f or Composite Transf er Capability (The Total I s Less Than The Sum of The Parts) Spot Market Exchange Supply Demand Generation 2 Distribution 5 0 M 250 MW W Firm Contract Exchange Sub-Station
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