Bidding processes
How automated bids are a function of manual bids
All Initial Bids are submitted manually.
The latest manual bid is called the Reference Bid.
All physical components and pricebands of the Reference Bid are inputs into vAdvisor and these values are preserved in the vAdvisor bid.
Not all periods will be (re)solved by vAdvisor, for example the late rebidding period. If a new Reference Bid is detected then the Reference Bid will be submitted for the periods not solved by vAdvisor. If a new Reference Bid is not detected then the current acknowledged bid will be submitted for the periods not solved by vAdvisor. This helps ensure that the late rebidding period has bids formulated by vAdvisor and therefore NEMDE will consume bids that were formulated by vAdvisor.
Important: any manual bid should be drafted from a bid synchronised with the current acknowledged bid. If a manual bid is drafted from, for example, a bid template, then the late rebidding period bid structure that had been previously optimised by vAdvisor will be lost.
For FCAS bids, vAdvisor allocates the optimal volume across the ten BandAvail MWs. The BandAvail MWs of a manual FCAS bid are not consumed by vAdvisor.
For Energy bids, vAdvisor relocates a limited optimal volume of BandAvail MWs from the Reference Bid. Therefore the BandAvail MWs of a manual Energy bid are consumed by vAdvisor. The limited volume that can be relocated is a Trader Parameter called Trader delta Limit Volume, TdLV.
How manual bids impact the submission process.
The vAdvisor solve cycle begins approximately 3 minutes into a dispatch interval when updated predispatch and p5min data are published and loaded. vAdvisor solve cycle then takes approximately 30 seconds to complete. At the end of a solve cycle vAdvisor checks if a new manual bid has been acknowledged during the 30 seconds of the solve cycle before submitting a new vAdvisor bid.
When a manual bid is submitted while Submit Mode is ON it is therefore possible that vAdvisor will not submit an offer in the current dispatch interval.