 | The Electricity Market Complex Adaptive System (EMCAS) is an innovative software technology that utilizes agent-based modeling techniques to simulate how electricity market participants react to the changing physical, financial and regulatory environments in which they operate.
|
| What are the benefits of an Agent-Based Modeling approach? |
| Some of the key strengths of the EMCAS agent-based modeling approach include: Represents multiple market participants (agents) with decentralized decision-making; each agent may have its own set of strategies, risk preferences, and objectives Incorporates agent learning and adaptation based on performance and changing conditions The software can be used to identify effective bidding strategies (i.e., company bids are a result of EMCAS, rather than an exogenous input) Market monitoring for price manipulation can be carried out.
The agent-based modeling approach also enables EMCAS to be customized to local market and system conditions.
|
| EMCAS provides unique and valuable insights for: Bidding Strategy Evaluation Asset & Portfolio Optimization Price Forecasting & Risk Analysis Competitor Analysis Investment Planning Market Design & Monitoring.
|
| EMCAS was first applied for a regulatory commission in the mid-western United States. At the beginning of 2005, the software became commercially available and current clients include utilities, transmission companies, market operators, regulatory authorities and research institutes.
|
| What do independent reviewers say about EMCAS? |
| A consortium comprised of a system operator (OTE), regulator (ERU), transmission company (CEPS), and Ministry (MI&T) in the Czech Republic hired an independent consulting firm (Deloitte) to conduct a survey of commercially available software for electricity market simulation. An initial search led to the consortium contacting nine software vendors to request publications, documentation and demonstration models. After a detailed review, the consortium requested demonstrations of four best-of-class solutions. In June 2006, the consortium selected EMCAS as the top pick for their Strategic Regional Electricity Model.
After completing a detailed review and comparison of available electricity market analysis software, the Bonneville Power Administration selected ADICA/EMCAS among the top three vendors of choice in their search for a new tool to analyze RTO issues.
After assessing commercially available market simulation software, an electric utility and transmission company in Portugal chose to use EMCAS for analyzing the behavior of market participants, identifying effective bidding strategies and making investment decisions in the Iberian electricity market.
The Korea Power Exchange established a Memorandum of Understanding with Argonne National Laboratory to collaborate on EMCAS studies and development efforts.
The RTE transmission company in France dispatched an employee to work at Argonne for one year on EMCAS.
The Korea Electric Power Research Institute (KEPRI) dispatched an employee to conduct an 12-month training program at Argonne on EMCAS and GTMax.
|
FAQ 
What is EMCAS?