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SOFTWARE
Hourly Planning Software for Electricity Market Participants (HPEMP)
Improving the accuracy of hourly planning is one of the main goals for increasing the efficiency of the market participant.
Trading in modern markets is carried out in the following segments:
- Long-term and short-term contracts (yearly, monthly, weekly and daily)
- Day Ahead market
- Intraday market
- Balancing market
The first three segments are the obligations of the participants and the last is the market of deviations of the actual regime from obligations, and for most participants this is the market of “penalties” (the only exception are Balancing Service Providers if they are activated).
Improving the efficiency of the functioning of a market participant can mainly be achieved through:
- Optimization of the portfolio of contracts.
- Correct offers/bids on Day Ahead market.
- Minimization of participation on imbalance service market.
To achieve the goals above, it is necessary to ensure the highest possible planning accuracy for all time horizons first (improvement is achieved as the considered time period narrows).
IED Consulting LLC has developed HPEMP software to improve hourly planning accuracy for Year/Month/Week/Day Ahead and is offering it to the Electricity Market Participants as a tool for support (details in attached brochure).
