Power Generation Portfolio Optimization Software Solutions for Bilateral Markets
- This unrivalled Electricity Generation & Trading Optimization solution combines unit commitment and real-time and DA trading in bilateral power markets, boasting significant profit increases.
- For thermal power plant bidding and trading optimization in ISOs, RTOs and power markets or exchanges we refer you to another solution. Read more
- For BESS or battery storage bidding and trading optimization in ISOs, RTOs and power markets or exchanges we refer you to another solution. Read more
Power Trading Optimization Challenges
Clients’ profile. Traders, and portfolio and asset managers of generation companies with a diverse fleet of merchant or load-serving assets with increasing numbers of aging and renewable plants, within bilateral spot markets.
Targets:
- Maximize profit by dynamically adjusting for every 5-60 minute trading period, generation across a portfolio of generation assets versus buy-sell in bilateral spot market, while taking into account availability, constraints, outages, maintenance, existing ancillary and the bilateral contractual obligations, and external constraints such as grid maintenance, in day-ahead and real-time intraday (5-60 mins) markets as well as long term planning.
- A full-featured, ready-for-use, standalone cloud solution that can be easily integrated with your in-house ETRM and operation systems via flexible APIs.
QR Generation Optimizer Solution
- To overcome the listed challenges, this economic generation optimization model offers 2 perspectives:
a) Bilateral market. This model allows buy-sell opportunities in a given intraday or DA bilateral spot market. In this case, the optimal generation path maximizes the net gross margin of the plant while fulfilling all demand contracts by generation or purchase from the spot market, whichever is more economical.b) Unit commitment. This model does not allow buy-sell in bilateral markets and the optimal generation schedule minimizes total generation cost to fulfill all demand obligations, subject to all constraints.
- For a portfolio of power plants, the outputs are optimal 5-60 minute dispatch levels. In bilateral markets, the corresponding buy-sell schedules in the spot market are also computed. In all cases, detailed P&L data are also computed.
- These outputs are computed at the granularity of the market: 5, 15, 30, or 60 minutes. Execution can be every 15 to 60 minutes, 24/7.
- This 24/7 automated trading bot runs at each trading period, with a runtime of just a few minutes each round. The execution schedule is automated to immediately follow load and price forecasts, as these are required inputs.
QR Power Plant Generation & Trading Optimization Dashboard
QR AI Price Forecast Dashboard
Generation Optimization Advanced Ecosystem
- Microservice architecture enables accelerated custom configuration of trading & generation optimization solutions for any asset.
- API-friendly ecosystem allows flexible integration and data exchange with third party & in-house systems. Functionalities are constantly enhanced and extended to meet clients requirements.
Thermal Power Plants Generation & Trading Optimization Benefits
- You can start with a free POC trial, where we configure one of your power plants in our solution in just a few days. We have ready-to-use cloud servers.
- Flexible implementation. QR Optimizer is licensed as an annual subscription service. It can be installed on our cloud as a service, and you receive, via API and in web dashboards, the desired outputs, e.g., price forecasts, optimal generation & trading schedules every hour, 24/7. No software installation, hardware, or IT resources are needed. Alternatively, it can be implemented on a private cloud of your choosing, or on-site, and you control the environment.
- Flexible commercial terms. The solution’s yearly license fee is commensurate to the capacity of your generation asset. In no case will this solution cost anything, as it can generate profits worth several times its license cost. The powerful AI and algorithmic trading platform produces and can submit optimal bids every 15-min, 24/7, significantly increasing the power plant’s trading profit. Its automated nature allows you to eliminate the need for third-party trading companies, thus reducing costs.
- Ready-for-use with minimal configuration. We offer cloud servers loaded with many pre-loaded AI forecasting, trading optimization, and report templates. These can be configured in days for any thermal power plant asset and electricity market.
