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The Algorithms formulate a new bid every five minutes irrespective of the status of the Submit Mode. When a new bid is formulated three checks are made before a new Algo Bid can be submitted.
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Synchronisation
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pdBidr synchronises with the eHub-API. This is a direct query to AEMO to check and download any new bids from third party systems. If a new manual bid is detected then this bid becomes the Last Manual Acknowledged Bid (Reference Bid). Mini Sync checks that there are no new AEMO identifiers without downloading new bids. A mini sync is performed because it is completed more quickly than a Sync.
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Formulating a New Algo Bid
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After new input data is collected including any new Reference Bids the Solver optimises the objective function (to maximise value) and then abstracts the solution by allocating volume to each Bid priceband. This Algo Bid is ready to be submitted.
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Note that all three checks must be validated before an Algo Bid will be submitted. If any validation does not pass then pdBidr will reformulated a new Algo Bid after a new solve cycle has been completed when the validations will be checked again.
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Error Bid
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By design, AEMO’s eHub-API does not enforce a single point of entry nor does it afford a gate keeper or proxy role. This means that a bid from a third party system can be submitted (effectively a new Reference Bid) in the moment prior to pdBidr submitting an Algo Bid without the knowledge of pdBidr. In this event, the Algo Bid will have a later AEMO Offer Timestamp however the Algo Bid will be composed of an earlier Reference Bid. pdBidr checks (Syncs) and if this has happened pdBidr immediately resubmits the new Reference Bid as an Error (E) bid with a rebid reason akin to Correcting intended bid sequence.
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