Generation and Transmission Maximization (GTMax) model
The Generation and Transmission Maximization (GTMax) model helps researchers study complex marketing and system operational issues. With the aid of the model, utility operators and managers can maximize the value of the electric system, taking into account not only its limited energy and transmission resources, but also firm contracts, independent power producer (IPP) agreements, and bulk power transaction opportunities on the spot market.
GTMax maximizes net revenues of power systems by finding a solution that increases income while keeping expenses at a minimum. At the same time, the model ensures that market transactions and system operations remain within the physical and institutional limitations of the power system. When multiple systems are simulated, GTMax identifies utilities that can successfully compete in the market by tracking hourly energy transactions, costs, and revenues.
Key questions addressed:
- Which units will be dispatched in the new market and which will be stranded?
- How much power will I be able to generate and sell each hour during a particular period?
- When should I consider buying and/or selling power in the spot market?
- What is the marginal value of water in my hydro reservoirs?
- What is the value of demand side management programs?
- What is the projected available transmission capability each hour in the region?
- Will my investment in power or transmission assets provide an attractive return?
- What is the benefit of demand side management and distributed resources?
Sample data inputs:
- Hydro and thermal resources
- Operational restrictions
- Spot market prices
- Firm contracts
- Hydro cascade specs
- Demand and curtailments
- Transmission & distribution system
Sample quantitative outputs:
- Value of energy and energy savings
- Hourly generation
- Unit commitments
- Revenues and expenses
- Purchases and sales
- Contractual power flows
- Reservoir operations
Access the GTMax tool.