MODELLING POWER SYSTEMS AND COMPETITIVE MARKETS
PROPHET is an advanced market simulation model developed by IES for
modelling spot electricity markets.
It has been under continual development for over 15 years including development priorities arising from customer requirements.
Although primarily used for Australia's National Electricity Market (NEM), PROPHET has been designed to be sufficiently generic
to be adapted to any market that has a spot market. With a flexible model and powerful features, the power is in your hands to
gain detailed insights into competitive markets and potential outcomes.
Who should use PROPHET?
PROPHET has wide applications within industry:
- Pool price forecasting in both the short and long term
- Evaluate asset values under varying market assumptions
- Investigate system adequacy and build options
- Model different levels of embedded generation and the effect on existing generators and network performance
- Model RET and other schemes to encourage renewable generation
- Manage assets and limited resources
- Analyse the effect of transmission constraints