The Power Tool For The Industry

Nodal Analysis (LMP/FTR)

More power for complex markets.

Locational marginal prices (LMPs) reflect market-based electricity prices at specific locations while taking into account transmission congestion. AURORA has powerful capabilities to simulate the granularity of the nodal market by including a transmission network representation along with our tried and true fundamentals model. AURORA is the most comprehensive, reliable power market forecasting tool available.

AURORA uses a DC simulation algorithm to model the transmission system and to ensure that the resultant economic dispatch does not overload any elements in the system. The price of electricity at each node in the network is calculated as a shadow price which is based on the forecasted demand for the nodes in the simulation and the marginal cost of the optimized, dispatchable resources that meet this demand. The pricing algorithm determines all LMP components - the marginal costs of energy, congestion, and losses - at every node in the system. This approach simulates security-constrained systems with enhanced unit commitment and dispatch logic to properly account for those security constraints to produce nodal prices.

AURORA's nodal capability enables decision makers to understand the effects of LMPs whether they are evaluating power purchases or sales, preparing auction bids for FTRs (or CRRs), or evaluating the costs and benefits of a new or upgraded transmission line.

Our nodal capability is a complete solution with the data needed to perform LMP analyses.

Nodal Capability Features

AURORA's familiar graphical user interface brings you:
  • Optimal power flow (OPF) as the basis for LMP
  • Security-constrained OPF (SCOPF)
  • Security Constrained Unit Commitment or SCUC
  • Ease of use and speed
  • GIS-based maps and output display options
  • Consistent chronological data
  • Generation and load profiles transfer seamlessly to determine LMP, FTR values
Use AURORA to:
  • Forecast LMPs (at node/hub/area levels)
  • Determine financial transmission rights (FTR) and congestion revenue rights (CRR)
  • Evaluate congestion exposure
  • Analyze location-specific asset valuation
  • Evaluate generation siting and transmission upgrades
  • Determine risk of deliverability
  • Develop hedging strategies
All of AURORA's renowned power and flexibility, including:
  • Scenario analysis
  • Risk studies
  • Portfolio analysis
  • Powerful and flexible data importing and output reporting options

Nodal Data Available

Immediately simulate LMP markets.

EPIS, LLC has prepared data to map the AURORA North American Database to the ISO delivered power flows. These additional input tables, which include updated hub definitions, interfaces, and contingencies, ensure that fundamental details like demand, costs of generation, and fuel data flow seamlessly into the nodal solution. This data is fully mapped, formatted, and is ready-to-run upon installation. One tool, one database - a more granular solution.

Nodal data is currently available for the following markets:
  • Eastern Interconnect (MMWG planning case covering ISONE, PJM, NYISO, MISO, IESO, SPP, etc.)
  • WECC
  • PJM FTR Commercial Model
Nodal data can only be delivered to entities that have received Critical Energy Infrastructure Information (CEII) approval from FERC or approval from an appropriate ISO, RTO, pool, etc. that provides nodal data. EPIS is required, prior to delivery, to confirm that the receiving entity has the appropriate approval.

Schedule a Demo



HAVE A QUESTION? Ask away. We will gladly answer your questions.