ADICA Consulting has announced a contract with EDF to implement the Smart Market software solution called EMCAS.
Utilities are faced with the challenge to assess the impact of environmental regulation, demand-side management programs, intermittent renewable energy sources, and competitive markets on short-term operations and long-term investment decisions. Legacy software products have shown to be inadequate to deal with current issues confronting the electric power industry.
ADICA’s Smart Market software product, called EMCAS, uses an intelligent agent-based modeling approach to simulate how energy suppliers and consumers react to the changing physical, economic, and regulatory environments in which they operate. EMCAS reflects the transmission grid in detail, simulates market operation chronologically on an hourly basis, models the individual behavior of market participants and allows these agents to learn from previous experiences and adapt their behavior to new situations.
ADICA’s intelligent analytics enable informed decision making that impacts the bottom line. With more accurate analytics, energy suppliers are better able to reduce risk, optimize the value of generation and transmission assets, reduce capital expenditures, and increase profits.