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The Solver also produces a “Break Even RRP (BERRP)” for both OV and NOV (greater than 0) which approximates the price at which the dispatch of the service is marginal. The BERRP is used to allocate volume to PriceBands (PB) in a bid.
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The NDV is not an input into vAdvisorthe Solver.
Depending on market conditions, the OV output of the solver for each service and duid could be equal to zero, DV or anywhere in between. The difference between DV and OV is termed the Non Optimal Volume (NOV). Therefore,
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These Trader Prices help define a lower or upper bound of prices (pricebands) where volume may be allocated.
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Examples of these allocations are provided in the excel spreadsheet, Bid Formulation Examples.xls. |
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These allocation rules can be explored in pdBidr via the Bid Allocation (demo). You may enter any values and see how the Output (allocated volume) is determined. Note that you must insert a value for BERRPOV < FRRP and FRRP < BERRPNOV |
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Optimal Volume (OV) Allocation
OV is allocated in PBs between the BERRP and the maximum of FRRP and TP1. (Note that generally by definition BERRPOV < FRRP when OV > 0.)
If there are no available PBs between the BERRP and max(FRRP, TP1) then allocate OV in the first PB < BERRP.
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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 example Lower contingency services).
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NOV is allocated in PBs between the max( BERRP , FRRP) and TP1.
Note that by definition BERRPNOV > FRRP.
If there are no available PBs then allocate NOV in the first PB > BERRP.
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Input | Acronym | L5m | L60s | L6s | Lreg | R5m | R60s | R6s | Rreg | ENERGY |
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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 | |
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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. |
Max Avail 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. |
Maximum Discretionary Volume | maxDV | is the maximum energy volume that the Solver may determine as optimal. |
Minimum Discretionary Volume | minDV | is the minimum 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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