PROPHET
Prophet is a market simulation and least-cost investment model. Prophet is a tool for market behavioural analysis and generation and transmission investment planning. Prophet provides this through two distinct yet integrated models, the market simulation model and the least cost planning module. These two components operate separately but share common data sets so that utilising the two systems together is seamless for the user. Outputs from the simulation model include projections of spot price and generation dispatch which are used by our clients to guide a range of decisions including:
- Budgeting and revenue forecasts.
- Contract trading strategy.
- Spot trading strategy.
- Plant maintenance and overhaul timing.
The output from the least-cost investment model is generation and transmission development plan. This output is used by our clients to guide a range of decisions including:
- Generation investment opportunities.
- Long term strategy.
- Transmission augmentation.
The least cost investment model allows new entrants and transmission upgrades to be determined automatically which can then be evaluated in the simulation model.
IES also develops electricity market models (the assumptions and network topography database) for the Australian National Energy Market which we use internally for our advisory work and we also release commercially to our Prophet users. This database represents a base case from which the user can alter to meet their own views or as market conditions change. As such your ability to model future scenarios is enabled relatively quickly since you do not have to input and test all the assumptions prior to using the system. IES has developed the assumptions database for clients in other electricity markets.
Download a brochure or contact us for a free trial.