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M-CORE
Introduction
- 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.
Feature
Engine
- 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.
Type | MIP | SUDP |
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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
- All the data can be imported and saved to Excel and can be engaged with Excel to use Copy and Paste functions.
- Offers function to set up and execute multi-scenarios.
- Offers various options to users to choose to set up various parameters by their choice.
- Any data of user¡¯s choice can be printed into the format of report.
- Can be customized based upon a discussion with customer.
Long-term Model
Long-term Model can be utilized in the following areas.
Forecasting for the amount of Fuel Consumption/Generation |
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Forecasting Market Price and Profit |
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Forecasting Market Changes |
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Short-term Model
Short-term Model can be utilized in the following areas.
Weekly Simulation |
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Detailed Modeling |
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Technique of Short-term Model(MIP)
- Market simulation based on Mixed integer Programming is developed by several corporations such as AREVA, ABB and Drayton Analytics(now called Energy Exemplar).
- 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.
- AREVA and ABB use a commercial optimization solver called Cplex while Drayton Analytics uses Mosek.
- Cplex and Xpress-mp are known to have the best performance as optimization solver for MIP so far.
- We have developed the short-term engine using Xpress-mp.