[OASIS Issue Tracker] Commented: (EMIX-487) transactions common inenergy wholesale...

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    [ http://tools.oasis-open.org/issues/browse/EMIX-487?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=27054#action_27054 ] 

Edward Cazalet  commented on EMIX-487:
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I recommend the following change to Section 2.2 Approach that begins on line 231;  The change elimiinates references to TeMIX in the Approach and generalizes the Approach to better reflect the approach of the TC.

2.2	Approach (Current)
The EMIX TC has prepared a white paper that provides a context for discussing the use of transactions in forward and futures wholesale energy markets and financial markets. The Transactive Energy Market Information Exchange ([TeMIX]) white paper can be found in the non-normative references. Users of EMIX are strongly encouraged to become familiar with TeMIX when considering this standard.
Transactive Energy Market Information Exchange ([TeMIX]) is a specialization of work within the EMIX TC to address retail and wholesale transactions using approaches common in energy wholesale and financial markets. This specification defines a TeMIX profile as a restricted subset of the EMIX information model.
The TeMIX approach allows only specific tenders and transactions for block power on defined Intervals of time. Any party can be a buyer, seller, or both. Tenders may be offered by any party to any other party, as market rules and regulations may allow. Transactions may include call and put options. TeMIX also describes transport products for transmission and distribution.
The restricted information model and services of the TeMIX profile also support increased automation of transactions using the computer and communications technology of the smart grid. Tenders and Transactions can support dynamic tariffs by retail providers to retail customers. Options perform a similar function to demand response contracts or ancillary service contracts wherein an operator has dispatch control over the exercise of the option. The TeMIX approach assumes interval metering where delivery can be accurately measured.
EMIX has adopted much of TeMIX terminology. EMIX supports current operating models of market operators, utilities, and Demand Response providers while at the same time supporting the TeMIX model and future transitions among the models. 

2.2	Approach (Proposed)
The approach of the TC strives to support price and product communication among current operating models of wholesale market operators, utilities, exchanges, Demand Response providers, bilateral markets, and open retail and wholesale markets as well as new market models that may evolve.

Markets use a range of terminology.  For interoperation, EMIX uses the terminology of market "transactions" and "tenders" to characterize the communication of price and product across markets.  Some markets may call a transaction an "award" or a "contract".  Some markets may call a tender a "bid ", "offer" or "rate".  EMIX uses the transaction and tender terminology that can be translated to the terminology of various markets.

System Operator Markets such as those operated by Independent System Operators (ISO) and Regional Transmission Operators (RTO) use specific information models for communication of resource offers (tenders) for Energy and Ancillary Services products.  Retail service providers use specialized terminology to characterize retail full requirements and other tariffs.  Bilateral wholesale markets and exchanges may use a "bid/ask" terminology and various contract types.  Each of the markets may use specialized market clearing methods or the price may be the result of a cost-based tariff calculation. Market mechanisms and tariff calculations are out of scope for EMIX.

The EMIX information model is intended to support interoperation among markets that may use different information models.


> transactions common in energy wholesale...
> ------------------------------------------
>
>                 Key: EMIX-487
>                 URL: http://tools.oasis-open.org/issues/browse/EMIX-487
>             Project: OASIS Energy Market Information Exchange (eMIX) TC
>          Issue Type: Sub-task
>    Affects Versions: CSD03/PR03
>         Environment: IRC
>            Reporter: Toby Considine
>            Assignee: William Cox
>
> Temix approach does not address wholesale transactions using an approach common to any wholesale market operated by the IRC
> Remove wholesale market, or specify that is not the wholesale markets operated by the IRC members

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