GOC Group’s ELTRIX Scheduling solutions, Economic Generation and Generation Management, help generation companies meet scheduled generation requirements, comply with regulation, avoid penalties and maximize revenue through pricing incentives such as Availability Based Tariff related Unscheduled Interchange (UI) charges whenever possible.
ELTRIX’s Economic Generation module can target various objectives such as profit maximization or cost minimization depending on market dynamics, regulatory framework, and the demand-supply gap. It provides off-the-shelf decision models for different market scenarios that can be used for maximization of revenue through UI charges besides Merit Order Rating and Unit Commitment.
Merit Order Rating (MOR) / Merit Order Dispatch (MOD) is used to optimize the cost of generation of power plants with multiple generating units, by ranking the units in order of their cost of production. Given a station’s varying demand, the MOR module identifies a loading pattern for individual units that will result in the least cost of generation while ensuring that none of the unit’s constraints are violated. The cost curve of generation for each unit is identified from historical data and optimization techniques are applied to identify the loads for each unit that will result in the least generation cost for the specified station demand. The MOR module works closely with the Performance Optimization modules as well as Availability Based Tariff (ABT) modules to provide the most cost-effective solution for a generating station. A Unit Commitment model can be used to plan for the optimal use of generating resources based on forecasts.