FGEN: FEP’s Stochastic Dispatch Model
FEP developed a proprietary and stochastic dispatch model called FGEN to forecast and optimize the profits of energy assets. FGEN accurately captures the extrinsic value associated with natural gas peaker and combined cycle units.
FGEN forecasts theoretical market price trajectories, including the stochastic effects of volatility and mean-reverting jump diffusion processes to project possible unit dispatch and revenues based on the market prices derived in AURORAxmp.
FGEN incorporates unit-specific assumptions:
- Heat rate curves
- Seasonal variances
- Ramp rates
- Minimum and maximum up/down times
FGEN more accurately represents unit operations and dispatch than is possible using traditional market models.
For more information, please contact us directly at 303.974.5884, or email us.