GE Power Systems Energy Consulting (PSEC; Atlanta, Georgia) and EPIS Inc. (West Linn, Oregon) announce a joint-development project to provide analytical tools to effectively deal with the Federal Energy Regulatory Commission's (FERC) standard market design (SMD). Together, they will deliver computer models that communicate with each other to address SMD-related issues, such as locational marginal prices (LMP), congestion, nodal prices and project valuation under conditions of uncertainty.

Energy professionals will be able to use the transmission analysis capability of the PSEC's GE-MAPS (Multi-Area Production Simulation) software together with the speed of AURORA Electric Market Model.

PSEC licenses GE-MAPS for analyzing critical power market issues, such as the value of generating portfolios, the location of transmission bottlenecks, congestion costs and the attributes of different market structures. GE-MAPS incorporates the fundamentals required to forecast prices, congestion and system use under the LMP system that is contemplated in the FERC's SMD Giga-NOPR. GE-MAPS also provides strategic data for making market decisions using nodal or bus level prices of energy.

EPIS licenses AURORA for accurate forecasting of market energy prices and for risk-mitigation analysis of price volatility on generation and contract portfolios. AURORA uses a fundamentals-based proprietary transmission constrained unit-commitment and dispatch engine to simulate hourly spot and locational prices for energy markets and hubs. Its automated future-capacity expansion capability considers new technologies, resource options and retirements for use in multi-year studies and long-term price forecasts.
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