GPCM® Power Model Interface (GPCM-PMI™)
RBAC’s GPCM Power Model Interface has been specifically designed to minimize the effort and maximize the flexibility for interfacing the GPCM North American Natural Gas Market Modeling System to the leading North American Power Market Models (PMMs). Power market analysts have a chicken-and-egg dilemma: how can they provide their model with realistic fuel price forecasts to compute which plants will be dispatched and how much of each type of fuel will be used, when those prices depend in turn on the amount of each fuel used?
This dilemma is particularly important with regard to natural gas, since it has become the preferred fuel due to its abundance and low environmental impact compared to coal. Natural Gas is also seen as the stabilizing fuel as the global push for renewables continues to grow.
GPCM-PMI resolves this dilemma by providing an efficient means for two-way information flow between GPCM and the PMM. A gas price forecast from GPCM is provided directly to the PMM. It computes the implied fuel burns. The gas burns are fed back to GPCM for computing a revised price forecast. This forecast is used to compute revised fuel burns. An elegant algorithm designed by RBAC assures that this iterative process leads efficiently to a consistent forecast for both the gas and the power markets.
In today’s market environment, one cannot produce realistic power market forecasts without considering the specifics of the gas market and one cannot produce realistic gas market forecasts without accounting for important factors in the power market. The challenge can be overcome by combining the industry standard natural gas market modeling system, GPCM, with industry standard power market models using RBAC’s Power Model Interface.
Special features of the GPCM-PMI include:
- A data map connecting more than 4,000 gas-fired units in the three major North American interconnects (Eastern, Western, and ERCOT) to GPCM entities representing power market gas demand in each geographic area of the United States, Canada, and Baja California, Mexico.
- A data mapping procedure which uniquely ties any new resource generated by the power market model to a specific GPCM customer-location entity.
- An algorithm for speeding convergence between GPCM and the power market model.
- Error-catching procedures designed to reduce or eliminate lost time due to data inconsistencies between the two models or within either one of them.
GPCM-PMI™ is available to any licensee of both GPCM® and Gas4Power® as well as power market models such as AURORAxmp®, PROMOD®, Plexos® and GE-MAPS®.
SOURCE: This map is the property of the North American Electric Reliability Corporation and is available at: http://www.nerc.com/comm/CIPC/Agendas%20Highlights%20and%20Minutes%202013/2015%20December%20Compiled%20Presentations.pdf.
- Better forecasts from both GPCM and the PMM.
- Better negotiating position due to better insights into possible future outcomes.
- Improved strategic planning to mitigate risks and capture opportunities.
- Increased efficiency in both gas and power fundamentals analysis.
For additional information about GPCM-PMI™ and any other RBAC product, contact James Brooks directly at (281) 506-0588 ext. 126.
© 2020 RBAC, Inc. All rights reserved. GPCM, Gas4Power and GPCM-PMI are trademarks of RT7K, LLC and are used with its permission.
AURORAxmp is a trademark of EPIS, Inc., Plexos is a trademark of Energy Exemplar, PROMOD is a trademark of ABB, and GE-MAPS is a trademark of General Electric Company.