The first setting (pick-up) is used for magnetizing current (since magnetizing current can be present with LV circuit breaker open). Inrush is usually taken care of either with harmonic restraint or harmonic blocking element.
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Yes, you can simulate a number of different motors using ATP, including the Squirrel Cgae Induction Motor (it is a type 3 device using the UM Module in ATP). The ATP rule book is a good reference and gives examples of the data structure as well. Furthermore, I last downloaded a...