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Summary
The Financial Page charts or and tabulates the FCAS gross margin, components of gross margin, key variables variables that relate to gross margin, regulation enablement and non-enablement factors and other metrics such as market share of FCAS, particularly regulation services. Useful for reporting performance for financial purposes or to better understand how gross margin can be improved.. The primary use is to better understand the revenues and liabilities for regulation FCAS so that revenues may be improved and liabilities can be identified and therefore reduced. The main liability being the enablement and non-enablement factors used to calculate your causer pays regulation settlement factor used to determine cost recovery for regulation services. The reports are specifically designed to be aggregated over both time (from 5 min to 1 year) and units (from single units to stations, portfolios and regions).
Definition of gross margin and the components
A full description and derivation of gross margin and the components and underlying variables can be found in the PAGE within "FCAS pays documenation": "PAGE "Derive regulation gross margin"
How To Access "Financial Reports"
To open the "Financial Page" use the URL fcaspays.com.au and click on the dollar pad symbol in the left hand navigation bar (shown left).
Selecting units, station, portfolios and/or regions
Expand the selection tree and choose the objects you wish to include in your report (left picturescreen shot).
You can remove branches of the tree and you can add filters on any branch.
The picture screen shot to the right shows portfolio branch switched off.
Click add filter, in this case region filter has been selected for NSW1.
You can add more than one filter and more than one object per filter.
Data enhancements
Normalised data
We have created additional unit variables that have been "normalised", or made consistent with, other variables. For example RaiseReg Instruction has been added to Totalcleared so that you can compare with Generation. Similarly Totalcleared has been removed from some variables such as Generation. This makes it easy to compare units with different levels of generation because they are normalised around zero. Warning: be careful when the Totalcleared changes since this creates a step change in the data.
Restructured data
We've separated the element types into four separate tables. Those elements are Unit, System, Interconnector and Load.
We've also removed variable numbers and have created explicit columns with the correct label. This makes variable selection much easier.
Enriched data
We've derived new variables to help analyse the data. These new variables include:
- Basepoint: Basepoint is a 4 second variable is the linear trajectory from the unit's generation measured approximately 15 seconds before the beginning of the dispatch interval and the mw target (totalcleared) at the end of the dispatch interval. To avoid accumulating any causer pays participation factor a unit's generation trajectory should follow this line or be on the side of the line that implies supporting any frequency deviation. An example of the Basepoint is shown in the adjacent diagramme.
- Effective Enablement: Effective Enablement is a 4 second variable which is derived at the beginning of the dispatch interval and measures the amount of regulation raise the unit can be instructed to provide by AGC regulation instructions at any point assuming the unit has otherwise followed its' Basepoint. The adjacent diagramme shows this value pictorially relative to the dispatched enablement. In this diagramme the Initial MW is outside of the technical envelope where the unit can be provided with an AGC regulation instruction. Assuming the unit follows the Basepoint it will not be until half way through the dispatch interval that it can be sent (if required) any AGC raise signals. Even in the second half of the dispatch interval any unit response (driven by regulation AGC) is limited to the green arrows. In this example the average Regulation Raise Effective Enablement for the dispatch interval will be one quarter of the dispatched Regulation Raise Enablement. The Value of Effective Enablement is capped between zero and the dispatched Enablement.
- Actual Raise Headroom: Actual Raise Headroom is a 4 second variable and is the retrospective version of effective enablement. Hence it is measured relative to actual generation rather than the Basepoint. This variable is not shown in the diagramme.
Calculation of raise/lower non enablement and enablement factors
The recovery of regulation FCAS costs is described in AEMO's document, "REGULATION FCAS CONTRIBUTION FACTOR PROCEDURE". The preceding step in aggregating a portfolios factor, "Area Portfolio Factor" is to calculate the Raise and Lower Enablement Factors, REF and LEF respectively, and the Raise and Lower Non-Enablement Factors, RNEF and LNEF respectively. The following example shows how to calculate these four values for a station, in this case Vales Point.
How To Select the Enablement Factors - REF, LEF, RNEF and LNEF
Select the services, Lowerreg and Raisereg from the select SERVICES option.
Then select the Factor Variables (shown in the screen print on the right).
Then select the level of unit and time aggregation and the time period located in the top tool bar (shown in the screen print below).
Calculation of raise/lower non enablement and enablement factors
The enablement factors are AVERAGES for the selected time period.
AEMO began publishing 5 minute enablement factors in early 2020. We precisely calculate these values and publish them six weeks in advance of AEMO. Note that the enablement factors we publish are now averages (previously we published sums). An average value of '-1' for one month equates to a liability of approximately $1000 but may be as high as $10,000.
We also calculate average negative values so that you may quickly identify periods where significant liabilities are accrued. We do this because average values can net out the negative periods making these periods hard to find.
The recovery of regulation FCAS costs is described in AEMO's document, "REGULATION FCAS CONTRIBUTION FACTOR PROCEDURE". The preceding step in aggregating a portfolios factor, "Area Portfolio Factor" is to calculate the Raise and Lower Enablement Factors, REF and LEF respectively, and the Raise and Lower Non-Enablement Factors, RNEF and LNEF respectively. The following example shows the average contribution factors for Vales Point. These factors are for raise and lower enablement and non-enablement factors as well as averages for negative periods. In this case it is clear that there is a systemic accumulation of negative raise not enabled factors compared to negative lower not enabled factors that would warrant further investigation.
