The Federal Energy Regulatory Commission (“FERC”) will convene a Technical Conference on “Increasing Real-Time And Day-Ahead Market Efficiency Through Improved Software” on June 23-25, 2014. In its 2009-2014 Strategic Plan, FERC set forth a strategy to “Promote operational efficiency in wholesale markets through the exploration and encouragement of the use of software and hardware that will optimize market operations,” with a goal of enhancing efficiency in electricity market operations through the use of new modeling software and the optimization of hardware by FY 2014.
The June 2014 technical conference is the latest of several conferences that FERC has held to move this initiative forward. The conference will facilitate discussion between electric system operators, software developers and other experts regarding areas through which improvements in software can enhance market efficiency. Specific topics of discussion will include market modeling approaches that have been identified as having “significant promise for potential efficiency improvements” in the areas of “stochastic modeling; optimal transmission switching; alternating current (AC) optimal power flow modeling; and use of active and dynamic transmission ratings.”
Additional details regarding the conference and previous conferences can be found on FERC’s Increasing Efficiency through Improved Software Initiative Website. FERC has posted a complete agenda here. FERC will be accepting comments after the conference until July 31, 2014.