PORTLAND, Ore., Dec. 18, 2003 — EPIS Inc. has released an electricity price forecasting model built around the new universal language for data exchange – XML – and Microsoft.NET technology.
“AURORAxmp is a quantum leap in electricity price forecasting and modeling,” says Warren H. Winter, President and CEO. “AURORAxmp delivers unequaled modeling power, speed and control for electricity price forecasting, project valuation and market risk analysis.”
XML (extensible markup language) is playing an increasingly important role in the exchange of data.
“Through the use of XML, component object architecture and enhanced Visual Basic scripting, AURORAxmp enables a high level of software integration, model control and easy data exchange,” Winter says. “We call that ‘extensible modeling power’ – or XMP.”
EPIS licenses AURORA to utilities, power marketers, financial institutions and consultants to produce forecasts of electricity market prices based on market fundamentals. The fastest tool of its kind, AURORA is used for risk analysis of price volatility on generation and contract portfolios. The model employs a proprietary transmission-constrained unit commitment and dispatch engine to simulate hourly wholesale spot prices for all major North American energy markets and hubs.
AURORAxmp gives users control over virtually all aspects of model operation, including dynamic data modification. AURORAxmp operates on a desktop PC and can be linked to a wide range of applications as a power system simulation and pricing engine. It enables users to modify and save changes to a database within an individual analysis or model run “on the fly”.
This capability simplifies scenario management and sensitivity studies. AURORAxmp also supports multiple database formats, including those based on XML, SQL Server and MS Access 2000, and gives users exceptional control over output specification. Its advanced user interface provides quick and intuitive navigation through all important aspects of power market analysis.
EPIS, Inc. (www.epis.com) is the developer of the AURORA Electric Market Model, software package with ready-to-use data for all the reliability regions in North America to forecast wholesale electricity market prices. Leading energy providers, power-marketing companies, energy consultants, and utilities use AURORA to model wholesale electricity prices and perform various long-range planning and risk analysis strategies.