Intelligent Energy Systems’ Prophet software sheds light on Australia’s electricity market
First introduced in 1997, Prophet is the most widely used simulation software in the Australian National Electricity Market (NEM). The software has also been used for studies of electricity markets outside of Australia, including those of Singapore, Ireland, New Zealand, and Vietnam. Prophet customers include generator and retailer companies, market and system operators, and government and private consulting firms.
Prophet is an advanced software application that models the physical and financial operation of competitive electricity markets. The software was developed by Intelligent Energy Systems (IES), a firm specializing in software solutions and consulting services for organizations involved in energy markets. The package’s simulations are based on linear programming and optimises market dispatch taking into account bids and offers as well as losses and transmission constraints. To date, Prophet has played an instrumental role in power plant valuations, market price projections, transmission planning, and power system reliability studies.
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