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Subject: RE: [emix] Definition of a "Price Interval"


Keep in mind that when the ISO's refer to price interval in their reports and analysis documents, they are referring to a monetary interval rather than a time based interval.  In other words, there is a $15 price interval between an LMP of $45/mwh and $60/mwh.  Most usage in analysis is asks questions like "at what price interval do large facilities respond to DR signals".  These kinds of studies influence incentives and subsidies, and may inform rate making in regulated constructs.  However, in the markets, the actual prices themselves are known well in advance of Dr events since they are set at auctions.
 
When modeling/forecasting for grid operations, the ISO's will use this research to determine the likelihood of calling an event and the cost of that event, given weather predictions at various degrees of confidence (of the weather).  Because of the usage, I would reverse the wording somewhat; i.e., that for a given time interval, there should be a price associated with it.  Recipients would use this data, especially in automated systems either to auto respond or to signal managers if prices exceeded a pre-set level.
 
This happens to be a period of rapid rules change following a relative period of stability.  Predictions are troublesome at best, but there seems to be a national trend toward eliminating specific pricing for DR, and paying all parties the generation equivalent of the energy product produced.  this is not without controversy, so our wisest course might be to allow for showing prices for DR and for the underlying energy.  This would support a value calculation that encompasses both the overt value of DR plus the value of the avoided purchase of energy for the same time interval.
 
Phil Davis

________________________________________________________________________________________________
Phil Davis | Senior Manager Schneider Electric Demand Response Resource Center | 3103 Medlock Bridge Road, Ste 100 | Norcross, GA  30071 | (404.567.6090 | 7678.672.2433 | Skype: pddcoo *phil.davis@us.schneider-electric.com | : Website:  http://www.schneider-electric.com

 

 
 


From: Girish Ghatikar [mailto:GGhatikar@lbl.gov]
Sent: Friday, April 02, 2010 8:06 PM
To: emix@lists.oasis-open.org
Subject: [emix] Definition of a "Price Interval"

This came up during last week's eMIX TC meeting -- What is the definition of price interval? What elements/attributes are comprised in it?

For any price, there should be a standard "Time" factor associated with it (unless the exception is there is "one" price for all periods).


I think we should make a key distinction of price schedule versus the interval (if we ever can) and how the generic price intervals are different from their definition in DR signals (the notion of DR events).

Let's say for example, a price-responsive DR event in OpenADR may look something like this (I am not saying this is how eMIX should address it as the goal of sending the information and subsequent response may differ) --

        <p:drEventData>
           <p:notificationTime>2010-02-08T15:17:21.000-08:00</p:notificationTime>
            <p:startTime>2010-02-09T00:00:00.000-08:00</p:startTime>
            <p:endTime>2010-02-09T23:59:59.000-08:00</p:endTime>
            <p:eventInfoInstances>
                <p:eventInfoTypeID>PRICE_ABSOLUTE</p:eventInfoTypeID>
                <p:eventInfoName>price</p:eventInfoName>
                <p:eventInfoValues>
                    <p:value>0.03638841</p:value>
                    <p:timeOffset>0</p:timeOffset>
                </p:eventInfoValues>
        </p:eventInfoInstances>
        </p:drEventData>

What you see above is a definition of time slot (start and end time) that has various attributes associated with it. Other attributes could be for example, load shed, % shed, etc. However, all of these attributes are associated with one time-slot notion, which is defined by the period of DR event.

Thank you,
RIsh

--
Rish Ghatikar
Lawrence Berkeley National Laboratory
1 Cyclotron Road, MS: 90-3111, Berkeley, CA 94720
GGhatikar@lbl.gov | +1 510.486.6768 | +1 510.486.4089 [fax]

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