BID3

BID3: Pöyry’s Power Market Model

BID3 is Pöyry’s power market model, used to simulate the dispatch of all power stations and renewables on many power markets worldwide, including the European network and parts of South America, Asia-Pacific, and the Middle East.

The model simulates all hours of the year, with multiple historical weather patterns, generating hourly wholesale prices for each country for each future year and dispatch patterns and revenues for each individual plant.

BID3 is extensively used by Pöyry, and is the modelling platform used for Pöyry’s Electricity Market Quarterly Analysis reports, giving power price projections used by major banks, utilities, governments and developers. BID3 is highly flexible to use and incorporates the best aspects of our previous models, BID2.4 and Zephyr.

Key features

  • Sophisticated hydro modelling, incorporating Stochastic Dynamic Programming to calculate the option value of stored water.
  • Detailed modelling of intermittent generation, such as wind and solar, allowing users to understand the impact of renewables and requirements for flexibility.
  • A user-friendly and intuitive interface, requiring minimal training to use.
  • Advanced treatment of commercial aspects, such as scarcity rent and bidding above short-run marginal cost.

Data sets are available on all European markets, using the same data that Pöyry uses to model these markets on a quarterly basis.  The data covers both conventional generation and detailed wind, demand and solar profiles, allowing customers to instantly gain understanding and results on complex markets.

BID3 is available to purchase, and is used by generators, regulators and TSOs (Transmission System Operators) worldwide. By buying BID3, you are buying into Pöyry’s expertise and reputation in electricity market modelling.

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