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The latest dispatch price (ActRRP) is also included in the definition of PT for the first three dispatch intervals. Hence the following definition applies:

iff for dispatch interval at time t where

t <= current_datetime + m 15 (minutes) then

if min(ActRRP, FRRP_t) > max(TP_max , SRMC⁺) then PT_t = 10

if min(ActRRP, FRRP_t) > min(TP_max , SRMC⁺) and min(ActRRP, FRRP_t) <= max(TP_max , SRMC⁺) then PT_t= 1

if min(ActRRP, FRRP_t) > min(TP_min , SRMC⁺) and min(ActRRP, FRRP_t) <= min(TP_max , SRMC⁺) then PT_t = -1

if min(ActRRP, FRRP_t) <= min(TP_min , SRMC⁺) then PT_t = -10

The reason to include ActRRP for the first three dispatch intervals is that we have found earnings outcomes can be consistently improved when the dispatch price is below SRMC but the forecastRRP is greater than TP_max. Effectively the price forecast is not reflecting actual price outcomes and hence without considering dispatch price the bid allocation can maintain volume allocation to priceband 1 which ensures a positive target even though prices are below SRMC.