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All Initial Bids are to be submitted manually.
The latest last acknowledged manual bid is called the Reference Bid.
All physical components and pricebands of the Reference Bid are inputs into the algorithms and these values are preserved in the Algo bid.
Not all periods dispatch intervals will necessarily be solved by the algorithms, for example the late rebidding period (optional), past periods or beyond the solve time horizon (optional). If a new Reference Bid is detected then the dispatch intervals of the Reference Bid will be submitted for the dispatch intervals not solved by the algorithms. If a new Reference Bid is not detected then the
The Active Acknowledged Bid will be submitted for the dispatch intervals not solved by by the algorithms.
The Active Acknowledged Bid is used so that components of an earlier Algo bid moves maybe an earlier Algo Bid or a new Reference Bid. This process allows for earlier Algo Bids to move into the late rebid period and then into the dispatch interval. This helps ensure that the late rebidding period has a bid structure that is formulated by the algorithm.
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For Energy bids, the algorithms reallocates a limited optimal volume of BandAvail MWs from the Reference Bid. Therefore the BandAvail MWs of a manual Energy bid are consumed by vAdvisor pdBidr and the bulk of the bid structure is preserved. The limited volume that can be reallocated is a Trader Parameter called Trader delta Limit Volume, TdLV.
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The Algorithms formulate a new Algo 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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Conditions for submitting an Algo Bid
Before an Algo Bid is submitted pdBidr checks the following:
Is there a difference between the Algo Bid and the Active Acknowledged Bid? If Yes then:
Is Submit Mode ON? If Yes then:
Check for a new Reference Bid. Is there a new Reference Bid? If No then:
Submit Algo Bid!!
Note that all three checks must be validated before an Algo Bid will be submitted. Whatever happens pdBidr will repeat the cycle again.
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 rebid is detected then this bid becomes the Last Latest 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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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 then ready to be submitted .
Conditions for submitting an Algo Bid
Before an Algo Bid is submitted pdBidr checks the following:
Is there a difference between the Algo Bid and the Active Acknowledged Bid? If Yes then:
Is Submit Mode ON? If Yes then:
Check for a new Reference Bid. Is there a new Reference Bid? If No then Submit Algo Bid!!
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 againsubject to the above checks.
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.
Note that all three bids will occur early in the dispatch interval and therefore the Reference Bid will be processed in the next NEMDE solve as originally intended by the Spot Trader.
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In the event that an Error bid is submitted by pdBidr, an email notification will be sent to the Spot Trader. |
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