ADELAIDE, South Australia, Dec. 05, 2018 (GLOBE NEWSWIRE) -- In a move that will enhance the productivity and success of users worldwide, Energy Exemplar (www.energyexemplar.com) has released PLEXOS 8.0. The latest version includes significant user interface improvements, as well as a ground-breaking new way to do stochastic modelling of hydro power. It represents a leap forward in the technology of electric system modelling, forecasting and analysis.
PLEXOS 8.0 is the result of years of research into methodologies that can deliver the results of multi-stage stochastic modelling of hydro power, without the time and computing resources that are consumed with more traditional approaches. The proprietary Hanging Branches method used to model hydro power in PLEXOS 8.0 delivers the speed and insight needed to make important decisions in a complex and uncertain marketplace.
“The storage element of hydrothermal makes it more complex than short-term stochastic models,” said Glenn Drayton, founder of Energy Exemplar. “We need to adjust our decisions in stages. PLEXOS software optimises decisions after each month, for example, rather than just once at the start of the forecast horizon. We’ve solved a key challenge by reducing the number of futures we explore while retaining as much of the information in the uncertainty as possible.”
This “rolling horizon” approach isn’t the only significant change in the new software version. Newly implemented heat classes are available for desalination modelling. Greater user control is incorporated into setting the tranche allocations. In addition, several user interface enhancements provide greater flexibility including a grid that shows all tagged dynamic properties, Windows docking tabs for various panels and functions, model history plan to view changes, histogram charting and the ability to rename classes, collections and properties.
“PLEXOS 8 is a result of the great feedback we get from our user groups,” said David Wilson, CEO of Energy Exemplar. "Our users rely on PLEXOS to perform complex analysis, forecasting and modelling. PLEXOS 8.0 will help our customers succeed in an increasingly complex and uncertain marketplace.”
Energy Exemplar is a global company that offers the two industry-leading products for electric system modelling, forecasting and analysis. Hundreds of organizations worldwide rely on PLEXOS and Aurora to perform mission-critical analysis, modelling and forecasting of power markets and electric systems. PLEXOS and Aurora deliver complementary functionality, which gives Energy Exemplar the ability to craft solutions that best fit customers’ needs.
About Energy Exemplar
Energy Exemplar (www.energyexemplar.com) is the market leader in the technology of optimization-based energy market simulation. Our software suite, headlined by PLEXOS® and Aurora, is used across every region of the world for a wide range of applications, from short-term analysis to long-term planning studies. It is relied upon by hundreds of organizations worldwide to inform multi-million-dollar decisions. Our people continually think of novel approaches and more realistic simulations that enhance decision making, create market opportunities and enable utilities and regulatory authorities to become smarter, more energy efficient and profitable. Energy Exemplar continues to ‘push the envelope,’ being first-to-market with the latest advances in programming and energy market simulations, as it strives to offer the most comprehensive simulation software to its customer base.