Pace Global deploys the AURORAxmp® electric market dispatch model as a core tool in the power market advisory services we provide to our clients. This tool performs chronological hourly dispatch analysis under a competitive power market environment, using inputs for supply and demand, fuel prices, environmental compliance costs, resource availability and transmission interconnections.
Pace Global has customized the system to effectively and efficiently perform risk-integrated (or Monte Carlo) simulations for a wide range of client types to evaluate power plant performance, utility portfolio costs and other market outcomes. Pace Global has enhanced the AURORAxmp® platform in order to accommodate customized uncertainty distributions for inputs like natural gas prices, delivered coal costs, environmental compliance costs, energy demand, hydro availability, and capital costs for new capacity entry. Our treatment of market bidding behavior incorporates the observed relationship between transient scarcity (as reflected in lower reserve margins) and spot market prices, and our capacity expansion and retirement modules provide dynamic response to a wide range of potential market conditions.