PLEXOS 8 meets the demand for hydrothermal modelling around the world, taking a new approach to the traditional stochastic dual dynamic programming (SDDP) model that was developed in the 1970s.
Developed by Energy Exemplar founder, Glenn Drayton and his team, this approach considers the complexities of the storage element of hydrothermal simulations. The software’s optimization adjusts decisions in stages: optimizing decisions after each month, for example, rather than just once at the start of the forecast horizon. It solves a key challenge by reducing the number of futures you explore while retaining as much of the information in the uncertainty as possible – a Rolling Horizons approach.
The Rolling Horizons approach isn’t the only significant change in the new software version. Newly implemented heat classes are available for desalination modeling and 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.