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FCAS bid formulation process
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The three volumes; OV, NOP NOV and NDV all need to be allocated to PBs in a bid. Note that,
OV + NOP NOV + NDV = MAV
The workflow on the right above shows the inputs and the logic to allocate each of these three volumes to a bid. The workflow also shows an additional three optional inputs to the bid formulation called Trader Prices (TP1, TP2 and TP3).
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OV is allocated in PBs between the BERRP and FRRP. Note that by definition BERRP < FRRP for OV. If TP1 is not null then OV is allocated in PBs between BERRP and the maximum of FRRP and TP1. The purpose of TP1 is to prevent all of the OV being inserted into very low PBs in the event that FRRP is small (which is often the case for Lower contingency services). BERRP is often zero (or approaching zero), particularly for lower contingency services.
Non Optimal Volume Allocation
NOV is allocated in PBs between the first PB greater than the BERRP . By definition BERRP > FRRP for NOVand TP1. If TP1 is less than BERRP, or if TP1 is null, then NOV is all allocated in the first PB > BERRP.
Non Discretionary Volume Allocation
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Input | Acronym | L5m | L60s | L6s | Lreg | R5m | R60s | R6s | Rreg | ENERGY |
|---|---|---|---|---|---|---|---|---|---|---|
MaxCapacity (as bid) | MAV | 80 | 136 | 14 | 75 | 81 | 131 | 13 | 75 | 550/600 |
Trader Limit Volume and Trader delta Limit Volume (MW) | TLV and TdelLV | 40 | 40 | null | 35 | 35 | 60 | null | 35 | 20 |
TraderPrice1 ($/MW) | TP1 | 0.4 | 0.5 | null | 6 | 0.5 | 0.9 | null | 7 | n/a |
TraderPrice2 ($/MW) | TP2 | 5 | 5 | null | 18 | 5 | 10 | null | 20 | n/a |
TraderPrice3 ($/MW) | TP3 | 12000 | 12000 | null | 12000 | 12000 | 12000 | null | 12000 | n/a |
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Glossary
Term | Acronym | |
|---|---|---|
Bid MaxAvail Volume: | MAV | is the maxavail as bid for each FCAS. Note that the word Volume has been appended to the definition for consistency with other volume definitions. |
BreakEvenRRP | BERRP | a calculated RRP where the service is marginal based on FRRP of other services. Note that the BERRP may be greater or less than FRRP. |
CurrentVolume | CV | is the expected energy target based on the reference bid and FRRP. This is required since Energy optimisation is limited by the reference bid. |
DiscretionaryVolume | DV | = Min(MAV, LV) for each FCAS This variable is an input into the Solver |
ForecastRRP | FRRP | is the forecast RRP of the service. Initially this will be the latest p5min forecast. |
Minimum Discretionary Volume | minDV | is the minimum energy volume that the Solver may determine as optimal. |
Maximum Discretionary Volume | maxDV | is the maximum energy volume that the Solver may determine as optimal. |
NonDiscretionaryVolume | NDV | = MAV - DV Note that this variable is not an input into the Solver. |
NonOptimalVolume | NOV | = DV - OV |
OptimalVolume | OV | is an output of the Solver and is the optimal volume of each FCAS to be dispatched. |
ReferenceBid | the last manual energy bid submitted to AEMO for a given day. | |
Trader Delta Limit Volume | TdelLV | is a user inserted value that limits the volume that may be repriced from an energy reference bid. |
Trader Limit Volume | TLV | is a user inserted value that aims to limit the Discretionary Volume consumed by the Solver for each FCAS. |
TraderPrice1 | TP1 | is an optional user inserted value that limits the minimum price of a Priceband when applied to the allocation of OV. |
TraderPrice2 | TP2 | is an optional user inserted value that limits the minimum price of a Priceband when applied to the allocation of NDV. |
TraderPrice3 | TP3 | is an optional user inserted value that limits the maximum price when applied to allocation of NDV. Generally this is used to avoid allocating volume to PB10. |
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