Power markets worldwide are undergoing a significant transformation due to privatization and liberalization, with added complexities arising from advancements in renewable energy technologies and decentralized generation. In this dynamic environment, possessing comprehensive market insights and knowledge has emerged as a strategic advantage.
PLEXOS stands out as one of the most advanced market simulation engines globally, trusted by established commercial enterprises and consulting firms. In 2021, Ignitis Group’s Innovations initiated the evaluation of this tool with the aim of enhancing and expanding their capabilities in energy market analysis and modelling.
This tool facilitates integrated simulations spanning across electricity, water, and gas markets. Leveraging advanced algorithms, it allows for simulations across various timeframes and exploration of the intersections of diverse energy systems, thereby enabling informed and high-quality decision-making, particularly in national-level strategic development, formulating policies, regulations and market frameworks, comprehensive system-wide planning, investment planning.
The Group’s activities are not limited to the geolocation of Lithuania, but also include markets in the Baltic region, Finland as well as Poland. PLEXOS will help us to ensure the development of the Group’s investment projects and the quality of services.
We firmly believe that data-driven market analysis is the key to unlock innovative solutions and overcoming the challenges faced by the energy industry.