These specifications are confidential and are the exclusive Intellectual Property of pdView Pty Ltd.
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All pdBidr price variables are priced at the RRP. This includes SRMC and trader price parameters. Hence bid Pricebands must be divided by the MLF in any calculations or conditions so that all price values are from the same point of reference. For example if volume is to be allocated to the first PriceBand < SRMC it implies the first Priceband/MLF < SRMC. |
Renewable bid allocation - no FCAS
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Information | Source | Description |
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SRMC+ | Solver (any upstream process would do however the solver already calculates this liability). If FCAS liability is excluded then the source is the Trader Parameters. | This is intended to represent the static SRMC plus the Raise Contingency FCAS liability (which is usually very small). Note that the addition of the FCAS liability can be disabled if required. If it is disabled then this constant can be thought of as TraderPriceBandMiddleTraderPriceMiddle, much like TPBmin and TPBmax |
FRRP | User selected price forecast source | The forecast energy price |
TraderPriceBandMinimum TraderPriceMinimum and TraderPriceBandMaximum TraderPriceMaximum (TPBmin and TPBmax) | Trader parameters | The upper and lower pricebands that are meant to span the flat area of the supply curve that represents the bulk of the SRMC of the regions renewable plant. |
Constraint_status | MMS.dispatch_local_price | Constraint_status is equal to 1 if local_price_adjustment is positive and represents the unit is at risk of being constrained OFF, 0 means there are no binding constraints for that unit and -1 means that the local_price_adjustment is negative and represents the unit is at risk of being constrained ON. As of the time of writing we consider it best to enter the constraint_status as a static trader parameter. |
max_capacity (MC) | MMS.dudetail | The volume to allocate in the chosen priceband. |
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The forecast price for each dispatch interval is characterised as a “price_type (PT)” where the PT is assigned a label (which is entirely arbitrary) of either -10, -1, 1 or 10. PT is a function of the TraderPriceBands TraderPrices and SRMC+. PT is defined as follows.
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PT = -10 | PT = -1 | PT = 1 | |
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PP = 1 | N/A | N/A | >TPBmin |
PP = -1 | N/A | <TPBmax | >TPBmin |
PP = -10 | PB10 | PB10 | <TPBmax |
Choosing values for
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Traderprice max and min
The aim of the volume allocation rules is for generation to be zero before prices become materially less than SRMC+ and for generation to be at a maximum before prices move materially greater than SRMC+ . To realise this aim volume should be allocated in anticipation of prices that would, or might, transition from prices that would result in positive earnings to prices that would result in negative earnings (and vice versa).
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