• M-CORE is the first commercial software in Korea that is designed to simulate the long-term and short-term power market.
  • Long-term Model is using SUDP(Single Unit Dynamic Programming), and Short-term Model is using MIP(Mixed Integer Programming). To use MIP, you must purchase solver(Xpress) further.
  • M-CORE uses Mdb as its basic DB.
  • Our product can perform the current market simulation based upon the CBP market rule including market price and settlement.
  • Also we are offering various options so our product can perform enough simulations for potential changes in the future of market system.
  • Timely and quick update is available when there is a change in the market system.



  • Long-term Model Engine is designed for the fast and prompt simulation. But it's difficult to easily apply a variety of functions.
  • Short-term Model Engine is designed based on MIP, the modeling of diffrent situations can be easily implemented. But it has the disadvantage of time-consuming simulations.
Characteristics of the Engine
Technique Performing optimization by utilizing mixed integer programming Utilizing single unit dynamic programming which was designed by Master’s Space
Similar Program Similar functions and capacity of Korea Power Exchange’s new RSC Similar functions and capacity of KEPCO’s P-Pool
Simulation Time 3 to 5 minutes for daily simulation 1 to 30 minutes for annual simulation

UI Profiles  

  • 1 All the data can be imported and saved to Excel and can be engaged with Excel to use Copy and Paste functions.
  • 2 Offers function to set up and execute multi-scenarios.
  • 3 Offers various options to users to choose to set up various parameters by their choice.
  • 4 Any data of user’s choice can be printed into the format of report.
  • 5 Can be customized based upon a discussion with customer.

Long-term Model

Long-term Model can be utilized in the following areas.

Field Use of Long-term Model
Forecasting for the amount of Fuel Consumption/Generation
  • Can calculate a fuel consumption rate by forecasting monthly amount of generation.
  • Can calculate a utilization rate, internal consumption internal consumption,
    and generation cost based upon the amount of generation.
Forecasting Market Price and Profit
  • Can predict future profit by forecasting market price.
  • Also can be used to analyze market price and profit for planning investment on facilities.
Forecasting Market Changes
  • The reform of Cost based pool (CBP) is in the works.
  • Offers easy simulation to forecast the effect of the changes of market system.

Short-term Model

Short-term Model can be utilized in the following areas.

Field Use of Short-term Model
Weekly Simulation
  • Can simulate the power market up to the duration of one week.
  • Not proper for the simulation longer than one week duration due to too many variables. (based upon 64 bit)
  • Can perform the long-term simulation by repeating daily or weekly simulations.
Detailed Modeling
  • The short-term model offers modeling that is similar with the Korea Power Exchange’s RSC (E-terracommit)
    which can simulate the detailed market.
  • Can analyze the effects on the market and the participants in the market per future market system change

Technique of Short-term Model(MIP)

  • 1 Market simulation based on Mixed integer Programming is developed by several corporations such as AREVA, ABB and Drayton Analytics(now called Energy Exemplar).
  • 2 Short-term Engine uses Mixed Integer Programming(MIP) method which is more efficient and accurate than traditional Priority List method or Lagrangian Relaxation method. Commercial optimization solvers would be used to utilize MIP method.
  • 3 AREVA and ABB use a commercial optimization solver called Cplex while Drayton Analytics uses Mosek.
  • 4 Cplex and Xpress-mp are known to have the best performance as optimization solver for MIP so far.
  • 5 We have developed the short-term engine using Xpress-mp.