AFRY BID3: Power Market Modelling Suite
BID3 - State-of-the-art energy market modelling software
BID3 is AFRY’s electricity 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 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.
BID3 is used in nearly all electricity markets worldwide, including Europe, North and South America, Asia-Pacific, and the Middle East. BID3 is licensed by generators, regulators and TSOs on a daily basis.
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.
Our electricity market modelling coverage is worldwide and continually expanding
A particular strength of BID3 is the fact that we use the model ourselves and make our calibrated datasets available to clients. These have a unique level of scrutiny and allow you to benefit from our deep expertise. Furthermore, this allows us to provide a support helpdesk where you can get through to real experts who know your markets.
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 AFRY Independent Market Reports, giving the power price projections used by major banks, utilities, governments and developers.
The methodology and quality of BID3 has been successfully peer-reviewed by some of the leading academics in the field of power market economics.
Designed to be user-friendly, BID3 models power markets through a smooth and accessible user interface.
High performing: solves the biggest of markets with ease, and scalable from a simple laptop through to distributed High Performance Computing Clusters and Cloud environments.
Forward thinking: we work alongside our clients to customise the software and make sure that it is developed to model all the latest trends in electricity 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.
BID3 provides a depth of functionality in modelling electricity markets. Users have the flexibility to simulate simple electricity systems, complex mixed-integer or capacity expansion problems.
Dispatch: The Dispatch module is where the detailed calculations are carried out in BID3. The module enables simulation of the most detailed aspects of markets to a 1 min resolution
Scenarios: Build scenarios with ease through the powerful Auto Build module, which uses unique decomposition techniques to accurately simulate new build of all possible technologies
Renewables: Designed to simulate markets with growing renewables, BID3 ensures consistency in weather patterns and provides accurate weather modelling
Investment: Ensure your scenarios are consistent, with all new build making a return on capital
Hydro: Beginning as the offspring of a thermal model combined with a hydro scheduling model, BID3 preserves the best of both worlds
Hydrogen: Hydrogen infrastructure could be a solution to balancing a higher renewable system, and BID3 allows you to model all aspects of hydrogen
Nodal: Simulate the complexities of nodal markets, including N-1 constraints. BID3 also models zonal markets using NTCs or PTDFs
Flexibility: Through BID3, all types of flexibility can be modelled, from electric cars through to flexible heating. The software is equally effective looking at reserve markets and re-dispatch
Adequacy: Adequacy assessment is the study of whether the 'lights will go out'. BID3 accomplishes this analysis through a dedicated LOLE module
Short-term: Powerful and consistent, BID3 can simulate short-term markets, allowing automated overnight runs to understand the traded forward curves. Ensure short-term and long-term simulations always stay harmonised
The BID3 electricity market model has been used extensively by our clients to carry out market simulations. Below are some of our most recent client studies.
German grid development plan: Netzentwicklungsplan (NEP)
The long-term planning of the German electricity network has been supported through the use of BID3, with the market modelling software performing a key role in carrying out the market simulations.
The Grid Development Plan 2021 is in response to the expansion requirements of the German onshore energy transportation network, and based on the legal requirements as stipulated by the German Energy Management Act. The transmission system operators are planning, developing and building the grid of the future, and the NEP2019 is used to show how power generation in Germany can successfully be restructured and renewable energy integrated within ten and twenty years.
To carry out the NEP2019, simulations of the market and of the transmission network are required, and the transmission system operators run the simulation of a series of scenarios of the European market for the NEP2019, using our electricity market modelling software, BID3.
Statnett: Long-term Market Analysis 2020-2050
Statnett prepares a Long-Term Market Analysis (LMA) every two years, compiled to keep track of and analyse the long-term development in the power market. The analysis includes the main trends and uncertainties in the development of the power system, document's Statnett's assumptions, and offers a forecast for expected power prices and predicted price outcomes under various circumstances. To do the required simulations, they have combined BID3 with the Samnett model.
"Our market analysis enables us to see future operational challenges in advance and serves as an important basis for our investment decisions. In 2016, we started publishing this work in a separate report. This is part of our goal of greater transparency surrounding our assessments, and a more qualified dialogue concerning our decisions," said Anders Kringstad, Head of Market Analysis in Statnett.
Become a BID3 power user - Familiarise yourself with our market modelling software through self-taught and instructor-led training.
Learn BID3 at your own pace through our online modular training course, included at no additional cost. Videos and worked examples are provided to help grow your knowledge of the software, while your understanding can be tested through the end of unit quizzes.
Our remote instructor led sessions allow teams to learn together despite locational differences. Simply log into the cloud and an instructor will guide you through concepts, provide exercises, and resolve any difficulties faced.
Prefer an in-person experience? For new customers, face-to-face training is included in the BID3 licence. Our BID3 experts will show the basics of Dispatch (day-ahead) simulation, building on this through training your team on the various modules so that you can build complete scenarios of the future.
The BID3 user forum provides clients with a platform to share ideas, identify best practices and learn from others.
Keep up to date with the latest news
Autumn 2022 user forum
We had an excellent time with our BID3 users in Oxford for the Autumn 2022 user forum. Through interactive sessions, we showcased how analysts and strategists use BID3 to drive investment decisions, shape policy making and design regulations across the globe. Our users also got our experts' guidance on features and renewable profile walkthroughs.
Learn more about the user forum below.
Something for everyone! The BID3 mid-2022 update!
In the mid-2022 update of BID3 we have provided a variety of optimisations, including a clone database option to provide faster version control and the ability to label scenarios through comments on each track.
View the full list of optimisations below.
Visit the BID3 portal
Interested in our offering? Contact us!
Contact James Cox
Interested in our offering? Contact us!