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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.
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Click Report to access the Performance Reports. |
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Benchmarking Algo ‘what if’ against 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 Algo bids, benchmarking will then compare Algo actual gross margin against Algo “perfect hindsight” gross margin where perfect hindsight is calculated by rerunning the Algos using actual price outcomes to formulate optimal volumes from which gross margin is derived.
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Using the 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 Algo ‘what if’ and the manual actual bid (see gross margin description below).
The difference between these values. Note that the difference is defined as “Algo ‘what if’ - Manual Actual”
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 Algo expected energy target is greater than manual expected energy target.
Gross margin difference is attributed to raiseFCAS SAS when 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.
Gross margin difference is attributed to Algo avoiding negative gross margin if the regulation volume is zero for Algo, and to avoid double counting for service allocation stack, the Algo and manual energy bid must be the same.
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Click on ‘column’ to list all the columns. Check or uncheck to hide or make visible. |
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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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