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Subject: [OASIS Issue Tracker] Commented: (ENERGYINTEROP-108) Indication ofhow firm a quote is
[ http://tools.oasis-open.org/issues/browse/ENERGYINTEROP-108?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=23667#action_23667 ]
Edward Cazalet commented on ENERGYINTEROP-108:
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Original question: Need indication of how firm a quote is.
I think I misinterpreted the question. I answered a question about firmness of the delivery of power and the reserves that is an emix issue that can be address in product implementation perhaps with warrants.
The other interpretation of the question is related to the uncertainty in forward quotes of prices. This could also be an emix question.
If the forward prices for future intervals are based on actual priced offers, then one can have reasonable certainty that forward transactions at these prices can be carried out. However, markets change and the foreword quotes will change as one approaches delivery. Quotes based on offers are what they are and no measure of uncertainty of firmness in the quotes makes sense.
If the quotes are based on forecasts (perhaps informed by forward quotes) then the party making the forecast and an estimate of uncertainty in the forecast could be described in a new emix artifact. Multiple forecasts by different parties such as forecasting services could be provided for . How a party would use these forecasts is outside the scope of emix.
Conclusion: submit to emix.
> Indication of how firm a quote is
> ---------------------------------
>
> Key: ENERGYINTEROP-108
> URL: http://tools.oasis-open.org/issues/browse/ENERGYINTEROP-108
> Project: OASIS Energy Interoperation TC
> Issue Type: New Feature
> Reporter: Toby Considine
> Assignee: Edward Cazalet
>
> Brin ing it here to make sure it is not lost in EMIX issues
> This is an important attribute of a power contract in many markets. Firm power typically carries with it reserves. Non firm power requires the receive to provide necessary reserves if it is to be considered a firm source of power.
> Other attributes are whether it is a power contract @ 100 % load factor (fixed rate of delivery) or a contract with a specified load factor. There can be other variations.
> We need to have a general way of specifying such attributes whether in emix or energy interop.
> [ Show ยป ] Edward Cazalet added a comment - 25/Jul/10 11:34 PM This is an important attribute of a power contract in many markets. Firm power typically carries with it reserves. Non firm power requires the receive to provide necessary reserves if it is to be considered a firm source of power. Other attributes are whether it is a power contract @ 100 % load factor (fixed rate of delivery) or a contract with a specified load factor. There can be other variations. We need to have a general way of specifying such attributes whether in emix or energy interop.
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