Technical process information

Automated bids are a function of manual bids

All Initial Bids are to be submitted manually.

The latest 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 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 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 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.

For FCAS bids, the algorithms derives and allocates the optimal volume across the ten BandAvail MWs entirely from scratch. The BandAvail MWs of a manual FCAS bid are not consumed by the algorithms.

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 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.

The following diagramme shows how the final Algo Bid is a composite of the Last Acknowledged Bid, The Last Acknowledged Manual Bid (reference bid) and the Modified Bid that was optimised by the solver, and which consumed the Reference Bid.

Bid Formulation and Submit Cycle

The Algorithms formulate a new 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.

Synchronisation

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 is detected then this bid becomes the Last 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.

Formulating a New Algo Bid

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 ready to be submitted.

Conditions for submitting an Algo Bid

Before an Algo Bid is submitted pdBidr checks the following:

1. Is there a difference between the Algo Bid and the Active Acknowledged Bid? If Yes then:

2. Is Submit Mode ON? If Yes then:

3. 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 again.

Error Bid

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 intended.

pdBidr will Sync again to ensure that another bid from a third party system has not been subsequently submitted for the same unit(s) and service(s) in quick succession.