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Subject: Pricing and EMIX in EI


Late night last night. Many issues came down to things discussed in EMIX, but perhaps not that well known in EI. In particular, Price was an issue.

 

Price is scattered all over EMIX. Price is on Products, and on Resource Performance calls (aka Option Strike Prices). In EMIX, we use the emix.price, and the question might be why?

 

            <!-- 8.5 Price -->

            <xs:complexType name="type-price">

                        <xs:choice>

                                    <xs:element name="absolutePrice" type="xs:decimal"/>

                                    <xs:element name="relativePrice">

                                                <xs:complexType>

                                                            <xs:sequence minOccurs="0" maxOccurs="1">

                                                                        <xs:element name="ratio" type="xs:float">

                                                                                    <xs:annotation>

                                                                                                <xs:documentation>Multiplier times market price, usually 1.0</xs:documentation>

                                                                                    </xs:annotation>

                                                                        </xs:element>

                                                                        <xs:element name="marketContext" type="emix:type-marketContext" nillable="true">

                                                                                    <xs:annotation>

                                                                                                <xs:documentation>Market Context for ratio. If Nill, Market Context from hosting artifact.</xs:documentation>

                                                                                    </xs:annotation>

                                                                        </xs:element>

                                                            </xs:sequence>

                                                </xs:complexType>

                                    </xs:element>

                        </xs:choice>

            </xs:complexType>

 

 

In EMIX, price is either an absolute price OR it is a relative price. I am writing today to discuss relative price.

 

A relative price consist of a multiplier and a market context. The market context can point anywhere. If the Market Context in the Relative Price is nil, then the Market Context comes from the parent EMIX object, whether Product, Option, or Resource.

 

In wholesale resource markets, the Strike Price for Performance Calls is tied to the prevailing market rates. Those may change from day to day, or from minute to minute. The resource is usually paid “the same as” (multiplier 1.0), but could be paid any other multiple.

 

In DR markets such as California, the Market Context could be the published tariff price, or any other reference.

 

I hope this helps to understand the use of the Emix.Price in Energy Interop. Comments can, of course, be submitted to the emix-comments during the EMIX public review that ends in mid-December.

 

tc

 


"If something is not worth doing, it`s not worth doing well"
Peter Drucker


Toby Considine

Chair, OASIS oBIX Technical Committee
U.S. National Inst. of Standards and Tech. Smart Grid Architecture Committee

Facilities Technology Office
University of North Carolina
Chapel Hill, NC

  

Email: Toby.Considine@ unc.edu
Phone: (919)962-9073

http://www.oasis-open.org

blog: www.NewDaedalus.com

 

 



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