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3/1/2008
Croatian National Electricity Company, HEP, Selects EMCAS Electricity Market Analysis Software
Croatian National Electricity Company, HEP, Selects EMCAS Electricity Market Analysis Software
Hrvatska Elektroprivreda (HEP) is a national electricity company that is becoming a regional market player. To obtain a competitive advantage in the evolving marketplace, HEP selected EMCAS for use in analyzing alternative trading strategies, business practices, and investment options.
ADICA’s EMCAS software employs an innovative agent-based modeling approach to more accurately model the behavior of electricity market participants. EMCAS reflects the transmission grid in detail, simulates market operation chronologically on an hourly basis for short or long time periods, and allows market participants to learn from previous experiences and adapt their behavior and bidding to new situations.
For investment planning, EMCAS employs a company (agent)-based profit-maximization routine that more closely follows investment decisions in restructured markets. A cost-minimization routine is being implemented to provide an economic benchmark for comparison with the profit-maximization results.
HEP’s decision to choose EMCAS was influenced by an independent survey of commercially available electricity market analysis software, which selected EMCAS as the top pick for their Strategic Regional Electricity Model.
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