• power

    Electricity Generation Bidding Optimization

    Real-time Power Plant Generation & Bidding Optimization
    Maximize Profit From Generation, Bidding and Selling to ISO
    Real-time Trading, Bidding & Scheduling Dashboard
    Data & Forecasting, ISO TH, Nodal, LPM Price & Load, Weather

Unrivaled Real-time Electricity Generation and Bidding Optimization System boasting a staggering 20% profit increase

This solution produces optimal (sub)-hourly generation schedules and energy bids, for all (e.g., 10) trading blocks, for the ISO. Optimization objective is to maximize net profit from electricity generation and bidding sales to the ISO. Applicable to real-time and day-ahead markets. Take full advantage of arbitrage and market opportunities arising from price movements in volatile electricity spot markets, and the stack of bids and offers.

This solution delivers all you need within the same dashboard: real-time generation and bidding optimization, trading, bidding, scheduling, weather and ISO nodal data, load, price and offer stack forecasting.

Real-time business intelligence, visibility and trading performance analysis dashboard, comparing intraday (sub)-hourly nodal P&L and positions across actual and optimal generation and bidding strategies.

The solution’s salient feature is to be ready-for-use on day one. No development, customization or specialized hardware needed. Your generation asset is configured in a week and you go live.

The cloud version is a 24/7 Cloud supercomputing generation and bidding optimization service. All you need is a browser.

Pay one single monthly fee for license, maintenance and upgrades; tailored to your size and budget.

Solution and Benefits to Clients

  • QR Generation & Bidding Optimizer™ goes well beyond unit commitment whose objective is to solely minimize generation cost irrespective of market prices, or planning tools which produce average generation plans. The objective of our optimization is to maximize net profit from generation and bidding to the nodal spot market of an ISO.

  • Unlike long-term fuzzy planning tools, our solution determines highly accurate optimal generation schedule and bids to the ISO, when used in real-time or DA trading. Traders can continually adjust, in real-time and every period, their bids to the ISO, to take full advantage of arbitrage and market opportunities arising from price movements in volatile spot markets and availabilities in the offer stack. This increases net generation profit by upwards of 20%.

  • QR Bidding & Scheduling™ is a real-time electricity trading and scheduling platform integrating key functionalities. A single bidding and scheduling dashboard allows to view, edit and submit energy and reserves bids to the ISO, starting with the optimal bids as initial values. This live web-panel provides also real-time business intelligence by displaying load and price forecasting, trading performance analysis comparing the dispatch, MQ and P&L of actual and optimal bids to the ISO.

Key Functions and Apps

Generation Optimization

Generation Optimization

Maximize (sub)-hourly profit from generation and buying-selling in ISO or bilateral markets.

Bidding Optimization

Bidding Optimization

Maximize (sub)-hourly profit from bidding and resulting generation and sale in the ISO.

Bidding & Scheduling

Bidding & Scheduling Dashboard

Automated (sub)-hourly bidding dashboard. Actual versus optimal nodal data, forecasts, P&L.

Load Forecasting

Load Forecasting

Short and long-term (sub)-hourly load forecast: ISO system, zonal and regional, and consumer load.

Price Forecasting

Price Forecasting

Real-time short and long-term (sub)-hourly ISO nodal, trading hub, LMP and zonal price forecast.

ISO Solutions

ISO Solutions

Connectivity. Nodal load, price & settlement data. Automated back office & settlement. Offer stack forecasting.

Electricity Portfolio Optimization Methodology

  • World-class team combining over half of century of expertise in modeling electricity markets, applied mathematics, optimization and cloud supercomputing.

  • Detailed modeling of thermal, hydro, storage and solar power plants. Generation level dependent ramp-up-down rates and nonlinear heat-rate curves for thermal power plants, and water to power conversion curves for hydro plants. Operational constraints and outage. The above lead to complex path dependent optimization problems with nonlinear objective function and constraints, whereby generation decisions at any period impact the remaining generation options for subsequent periods. Consequently, consecutive periods are optimized together, based on precise short-term price and offer stack forecasts.

  • Complex generation cost structure, mixed fuel and multiple currencies, level dependent nonlinear heat-rate curves. OPX per plant's run-time and generated quantity, start and stop costs. Revenue side is defined by selling generation at specific nodes in an ISO spot market. Transmission and all ISO charges.

  • Power generation optimization uses nonlinear optimization implemented in proprietary mixed-integer programming. Electricity bidding optimization is implemented via stochastic evolutionary optimization. Price, load and ISO stack of bids and offers forecasting are implemented via machine learning and deep level Artificial Intelligence.

  • Automated calculation and management of multiple fuel input, corresponding to nominal and optimal dispatch. Automated linking to gas nomination and scheduling. Automated calculation of multiple emissions outputs, SO2 / NOx / CO2.

  • Outage lifecycle management. Scheduling planned outage, adjusting sudden changes in generation capacity. Synchronization with generation and bidding optimization module for plant's availability. Automated notification to dispatch authorities, ISO and market operators, as well as bilateral buyers such as utilities, co-ops and retailers.

Frequently Asked Questions

How to use this Optimization Solution?

  • The key inputs to generation and bidding optimization are price and stack of bids forecasts. We offer very accurate forecasts in short-term (sub)-hourly intraday or DA, which we recalculate every trading period, around the clock. Our Generation and Bidding Optimization solutions thus generate precise optimal scenarios, leading to maximal profits with a high degree of accuracy when used dynamically every (sub)-hourly period, intraday or DA.

  • The entire runtime of our solution, from the time data is fetched from the ISO to computing optimal generation and bids for the next 24 hours, takes under a minute. This exceptional speed enables traders to use the solution dynamically in real-time trading to extract every possible economic value from the market.

What type of power plant is optimizable?

  • Optimization requires generation flexibility, which largely depends on ramping ability. Faster ramping plants are more suitable for optimization. On the cost side, optimization is more valuable for plants with high fuel costs. These can be merchant or committed to some load contracts.

  • Any generation MW quantity that can be ramped up / down in 2 hours and whose bidding to an ISO you control can be optimized. Gas, oil and hydro plants are prime candidates for optimization.

Can a generation asset under contract be optimized, or just merchant plant?

  • All generation assets can be optimized, whether merchant or contacted. If your plant is 500 MWh, and 300 MWh are under bilateral contracts, it is the whole 500 MWh that can be optimized, and not just the 300 MWh.

  • For periods when the asset is in the money, it is optimal to generate to maximum capacity subject to all constraints, satisfy all existing bilateral contracts and sell for profit to the ISO. The extra profit is due to the generation quantity exceeding the bilateral sales commitment. By increasing generation, the spot price may fall, and this effect is accurately modeled.

  • For periods when the price forecast is lower than generation cost and the asset is out of money, optimization lowers generation to the extent possible to avoid losses, and buys from the market to satisfy the bilateral sales. In doing so, the spot price may rise and this effect is also modeled.

Next Generation Dual Cloud On-site Platform

  • Leverage next generation dual-use cloud on-site architecture. QR Cloud is a live 24/7 supercomputing platform with a vast array of ready-to-use models and templates. You can select, download and customize any configuration from QR Cloud in your own instance, whether on-site or on QR Cloud.

  • QR System is a single universal software for all on-site and QR Cloud instances, and is upgraded quarterly free of charge. Actual clients’ implementation are configured in a database, which is portable from QR Cloud to on-site.

  • QR Cloud is ideal for medium size players. No software installation, IT infrastructure, resources or efforts required. All you need is a browser.

  • Private Cloud or on-site are for entities wishing to control data and processes.

New Commercial Paradigm

  • Whether on the cloud or on-site, no permanent license and hefty initial license fee. Just pay 1 single yearly subscription fee for license, cloud supercomputing, maintenance and on-going upgrades.

  • Start with an actual Trial to test our platform and the quality of our expert team. Continue if satisfied. Cancel if the Trial fails to meet your expectations. 

  • Ready for use out-of-the-box, no custom development or coding.

  • Cost-effective speedy implementation via intuitive configuration. Select, download and customize any configuration from QR Cloud in your own instance, whether on-site or on QR Cloud. Save years and millions.

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