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Subject: [OASIS Issue Tracker] Commented: (EMIX-1) 2.2.2 - Intrinsicelements



    [ http://tools.oasis-open.org/issues/browse/EMIX-1?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=19987#action_19987 ] 

Edward Cazalet  commented on EMIX-1:
------------------------------------

This comment applies to EMIX Issues 1,13,14, 39
The commenters are properly pointing out confusion created in part by the current format of the information model.  Thank you.
The information model provides for an array or prices for an array of time periods.  Price is buried in the WS-Calendar array of time periods.  Each time period can have a distinct price.

Suggestion for clarity to resolve this problem:
Expose the elements of the array in the information model.  For example:
WS Calendar Array (1.. N) of
StartTime  EndTime  Price
StartTime  EndTime  Price
etc.

For an offer, the extended price is typically meaningless.
For an executed transaction there is a quantity associated with each time period.  The extended price is the sum of the transaction price for each period times the transaction quantity for each interval.

Suggestion:
Perhaps we should have an Type for the EMIX price & product information model that gives the context of use.
For example an offer for an energy transaction has a price and a quantity ( usually a maximum quantity)
An actual transaction has a quantity and an extended price.  It also has an average price that is extended price divided by quantity.
An option offer has both a strike price and an option premium price.  
A post transaction report of the clearing price from an ISO auction has a price but no quantity.
An index of the closing price on NYMEX is also a price.  
Both the closing and clearing prices above do not constitute offers by the ISO or NYMEX.  A third party may however use such a price to index the price of a transaction with a counterparty.


> 2.2.2 -  Intrinsic elements
> ---------------------------
>
>                 Key: EMIX-1
>                 URL: http://tools.oasis-open.org/issues/browse/EMIX-1
>             Project: OASIS Energy Market Information Exchange (eMIX) TC
>          Issue Type: Improvement
>          Components: spec
>    Affects Versions: wd06
>         Environment: CAISO Sean Crimmins
>            Reporter: Toby Considine
>            Assignee: Toby Considine
>
> Wouldn't a price per rate of delivery e.g. $x/MWH at yMW be more explicit than total cost.  It also supports next comment.

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