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The GTMax model helps researchers study complex marketing and system operational issues. With the aid of this comprehensive model, utility operators and managers can maximize the value of the electric system, taking into account not only its limited energy and transmission resources, but also firm contracts, independent power producer (IPP) agreements, and bulk power transaction opportunities on the spot market. GTMax maximizes net revenues of power systems by finding a solution that increases income while keeping expenses at a minimum. At the same time, the model ensures that market transactions and system operations remain within the physical and institutional limitations of the power system. When multiple systems are simulated, GTMax identifies utilities that can successfully compete in the market by tracking hourly energy transactions, costs, and revenues.
The Generation and Transmission Maximization Model (GTMax) is a software tool for energy analysis from Argonne National Laboratory. GTMax is used extensively by power companies, electric utilities, system operators, and merchant companies around the world to address strategic issues, such as regional interconnections, power market studies, market entry analysis, developing optimal spot market and contract portfolios, economic evaluation of renewable resources, etc. With its detailed representation of the power generation and transmission system (hourly simulation, DC optimal power flow, and detailed hydro and renewable resources), the model tracks hourly costs, revenues, and profits for each generating unit.
- ↑ 1.0 1.1 Generation and Transmission Maximization Model