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Subject: [OASIS Issue Tracker] Commented: (EMIX-463) Line 803 - "Reserves asOptions" - The IRC does not see the benefit of re-phrasing widelyunderstood concepts for reserves. See the CIM and IRC submitted work where reserves are products.



    [ http://tools.oasis-open.org/issues/browse/EMIX-463?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=26015#action_26015 ] 

Joshua Phillips commented on EMIX-463:
--------------------------------------

The term option is understood by some people in some markets, on that we are in agreement.  It is currently an understood term in wholesale markets.  In energy markets, participants may purchase and sell options to participate as a reserve, provide energy, or provide a market product provided it is in agreement with applicable market rules.

The concern is adjusting market nomenclature by shutting out widely understood terms in mature, functioning, widespread markets which were developed by multiple stakeholders, leaves the IRC in a position that this is not the appropriate direction.  International bodies, in addition to the members of the IRC, have developed models which use terms understood by the industry.  For instance, it is likely, given the developments in the realm of Demand Response, that industrial users participating in a demand response reserve program also understand these terms.




> Line 803 - "Reserves as Options" - The IRC does not see the benefit of re-phrasing widely understood concepts for reserves.  See the CIM and IRC submitted work where  reserves are products.
> ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
>
>                 Key: EMIX-463
>                 URL: http://tools.oasis-open.org/issues/browse/EMIX-463
>             Project: OASIS Energy Market Information Exchange (eMIX) TC
>          Issue Type: Improvement
>          Components: spec
>    Affects Versions: csprd02 Public Review Draft
>         Environment: IRC
>            Reporter: Toby Considine
>            Assignee: Toby Considine
>            Priority: Minor
>             Fix For: wd29
>
>


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