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Performance Page
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Summary
Benchmarking performance is key to understanding the efficacy of your decision making and enables you to interrogate, and thereby improve, the decision making process.
Performance metrics will evolve as manual bids transition to algo bids and as the sophistication of algo bids improves.
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Click Report to access the Performance Reports. |
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Algo ‘what if’ versus Actual Manual
Initially performance will be measured by benchmarking Algo “what if” bids against actual manual bids. The main benchmark is to compare gross margin and the breakdown of gross margin for energy and FCAS. Other metrics such as the difference in volumes are also reported.
Note that as manual bids are replaced by vAdvisor Algo bids, benchmarking will then compare vAdvisor Algo actual gross margin with vAdvisor against Algo “perfect hindsight” gross margin where perfect hindsight uses is calculated by rerunning the Algos using actual price outcomes to derive formulate optimal volumes from which gross margin is derived.
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Using the
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The report will generate automatically when you select;
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an “algo” (there may be more than one),
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a date
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Performance Report
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Select a Date and a DUID |
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Report content
A break down of the gross margin by service for both the algorithm Algo ‘what if’ and the manual actual bid performance (see gross margin description below).
The difference between vAdvisor Algo and manual gross margin values.
The Specific business case effects on gross margin that can be attributed to items specifically referenced in the original business plan, namely:
The service allocation stack (SAS) for lowerFCAS and RaiseFCAS.
Gross margin difference is attributed to lowerFCAS SAS when vAdvisor Algo expected energy target is greater than manual expected energy target.
Gross margin difference is attributed to raiseFCAS SAS when vAdvisor Algo expected energy target is less than manual expected energy target.
Avoiding negative regulation gross margin for either lowerReg or raiseReg due to the change in generated energy generation.
Gross margin difference is attributed to vAdvisor Algo avoiding negative gross margin if the regulation volume is zero for vAdvisorAlgo, and to avoid double counting for service allocation stack, the vadvisor Algo and manual energy bid must be the same.
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Click on the ‘greater and less than’ symbols to expand and contract components of gross margin |
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You may ‘Click and Hold’ on any column heading to then move the column with you mouse |
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Gross Margin Description
As a first order approximation, total gross margin includes the revenue gained from providing a service plus the impact on the energy produced and the fuel used in providing an FCAS service.
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1 Utilisation is the effective volume of FCAS enablement that is actually utilised in providing the service. For regulation FCAS this is caused by the unit responding to AGC regulation component signals that are sent by AEMO.
For a detailed derivation of gross margin refer to pdView’s FCASpays knowledge base linked here
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