BID3: AFRY’s Power Market Modelling Suite
BID3 is AFRY’s power market dispatch model that uses advanced mathematical techniques to model the dispatch of power stations, market prices, capacity evolution, and all other important features of power markets. BID3 is used in many power markets worldwide, including the European network along with South America, Asia-Pacific, and the Middle East. BID3 is available to purchase, and is used by generators, regulators and TSOs on a daily basis.
BID3 continues to be at the cutting edge of power market modelling. Whether it is the challenges posed by intermittent renewables, the need to find the value of flexibility or understanding the impact of market design changes, BID3 provides the detailed modelling tools needed.
The model not only comes with AFRY’s own datasets, but also with support provided by our power market experts. BID3 is highly flexible and user feedback consistently highlights the ease-of-use and accuracy of the model. The BID3 modelling suite is used to support analysis and quantification over wide timeframes; from short-term trading support with live data feeds to strategic scenario analysis out to 2050 for decarbonisation targets.
BID3 is used extensively to underpin AFRY’s own analysis, thought leadership and deep analysis of electricity markets. It is the modelling platform used for the Independent Market Reports, giving the power price projections used by major banks, utilities, governments and developers.
- High performing: the hourly and sub-hourly modelling of BID3 and its multiple historical weather patterns are a proven means of replicating historical market results.
- Forward thinking: we work alongside our clients to customise the software and make sure that is developed to model all the latest trends in power markets.
- Versatile: whether it is the stochastic dynamic programming needed to calculate the option value for water stored in Nordic reservoirs, or the co-optimisation of power and water production in the Middle East, BID3 contains the functionality to model very diverse power systems.
- Simplicity: the graphical interface is intuitive and very user friendly, requiring minimal training to use; users can quickly gain the required results to analyse complex markets.
- Trustworthy: data sets are available using the same data that AFRY uses to model the markets included in our market reports.
For further information, please download the PDF version of our brochure or contact James or John from the BID3 team