The-MA Power Market Model

The-MA Power Market Model –
The New Model of Choice
The-MA is an advanced model for power market simulations. It is used by a wide
range of clients, and has a track record in projects for power producers, the EU
Commission, European TSOs, regulators, and traders. It is fast, easy to use, easily
adjustable to user-specific needs, and transparent.
©2010-2014 THEMA Consulting Group
www.thema.no
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INVESTMENT ADVICE
The model comes with a full dataset for North-West
Europe for the time horizon 2014-2040. In addition,
the client can easily implement own scenarios and
sensitivities, allowing to identify the main long-term
price drivers and uncertainties. Client assets can be
modelled directly in the model, estimating revenues
for different scenarios.
HEDGING SUPPORT
The model can be applied to evaluate the medium
term price risk related to main price drivers and
uncertainties. Future revenue streams can be
evaluated, given different hedging strategies.
Generation assets of a client can be explicitly
represented in the model, optimizing dispatch and
revenues.
FEATURES
The model is very flexible, and can be
tailored to the needs of the client.
Nothing is hardcoded; hence all
parameters can easily be adjusted.
The model is user-friendly and
transparent, allowing easy in- and
output control.
The model interface is implemented in
Excel, and the actual optimization is
performed in GAMS, using CPLEX (or
other solvers). The code is accessible
to the user.
The model is very fast. The time
resolution is easily adjusted to allow
for even faster test-simulations
Interface
TRADING SUPPORT
The model is easily adapted to accommodate for
short term analysis and trading support. Due to its
flexible structure the model can be adjusted to
account for the client’s own data sources and data, as
well as trading horizon.
Model & Optimization
CPLEX
©2010-2014 THEMA Consulting Group
www.thema.no
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SPECIFICATIONS
Hourly time resolution: The
simulates all hours of a year.
model
Detailed representation of thermal units:
Thermal generation modeling includes
start-up costs, part-load efficiencies and
minimum stable load restrictions. Plants
can be modelled on a plant by plant basis.
Detailed representation of hydro
capacities and water values: The-MA can
use both implicit and explicit water
values, simulating the effect of inflow
uncertainties. Each reservoir can be
modelled individually with its own
individual characteristics.
Intermittent generation: In The-MA, intermittent generation is modeled with observed
volatility. Large wind or PV installation can be modeled individually with own profiles and
characteristics.
Modeling of price areas: Price areas can easily
be modelled by The-MA. The Nordic market is
by default represented through price zones in
the model.
Modeling of the integrated North-European
electricity market: As markets are highly
integrated, all relevant markets in North-West
Europe are represented in the model. The
geographic scope is easily adjusted by the user.
©2010-2014 THEMA Consulting Group
www.thema.no
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Contact:
Arndt von Schemde, PhD
+47 982 63 986
[email protected]
THEMA Consulting Group THEMA Consulting Group is a consulting firm
focused on Nordic and European power market and energy issues. Our
clients include ministries, regulators, the European Commission, large
utilities, TSOs, trading companies, and other stakeholders in power
markets.
Model customers include authorities,
regulators, utilities, and trades
©2010-2014 THEMA Consulting Group
www.thema.no
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