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1/4/2008
Power System Professionals from 10 Countries Attend Training on ADICA’s Smart Market SM Solution - EMCAS
Power System Professionals from 10 Countries Attend Training on
ADICA’s Smart Market SM Solution - EMCAS
This winter, power system professionals from ten (10) countries attended a two-week training course on the use of ADICA’s Electricity Market Complex Adaptive System (EMCAS) software. During the course, organized at Argonne National Laboratory, participants developed an understanding of how to use EMCAS to test the impact of different market rules and bidding strategies on emerging market behavior, and the ability to begin analysis of their own country’s market development.
The EMCAS software is designed to meet the growing need for advanced modeling approaches that simulate how electricity markets evolve over time and how participants in these markets react to the changing physical, economic, financial, and regulatory environments in which they operate. Unlike conventional (time series, regression and least-cost optimization) models for electric system analysis, the innovative EMCAS software utilizes agent-based modeling (ABM) techniques to represent power markets with multiple and diverse participants, each with its own unique set of business and bidding strategies, and risk preferences.
About ADICA
ADICA Consulting LLC is an industry leader in providing Smart Market SM business solutions and decision support for energy companies and government agencies worldwide. Our
innovative software products, developed in collaboration with Argonne
National Laboratory, provide unique and valuable insights that enable
our clients to succeed in energy marketplace.
About Argonne
Argonne is one of U.S. Department of Energy’s largest research centers, with nearly 3000 employees. The laboratory is recognized for its excellence in connecting basic research to innovative technology. Argonne’s annual operating budget of about $500 million supports research in the areas of basic science, energy resources, environmental management, and homeland security.
About EMCAS
The Electricity Market Complex Adaptive System is a Smart Market SM software product designed to meet the growing need for advanced modeling approaches that simulate how electricity markets evolve over time. EMCAS uses an innovative agent-based complex adaptive system approach to more accurately simulate the behavior of market participants.
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