EMK:Glossary
B
Batch Resource
A collection of individual run definitions for consecutive execution. The sequence of runs in a Batch is important for correct operation of the multi-year run function.
Binary Output Specification Resource
A specification of which binary data will be output when running a run definition.
C
Circuit
A link, either a line or a transformer, with electrical characteristics such as Resistance and Reactance and which is capable of carrying a Power Flow on the Transmission System.
Company Resource
Defines the Generator ownership, retail load and hedge contract information for a specific Company. EMarket allows different versions of the same Company to be defined.
Connections Resource
Specifies a single physical network configuration as a collection specific Generator, Company and grid resources.
Constraint
A constraint occurs when one or more Circuits reaches its local maximum carrying capacity set by the System Operator to maintain grid security or power quality.
D
Demand
The rate of consumption of electrical energy measured in MW/h (1 MW/h = the electrical energy consumed by a 1,000,000 watt appliance in one hour
Dispatch
The process of calculating the key Market and Transmission System data for a single Tick using a Run Definition(Demand, Offers and Transmission System configuration) to calculate Price, Generation and Power Flows.
E
Entity.Trait Model
EMarket's internal data model is composed of entities and traits.
Entities represent elements of the modelled electricity market (e.g Node or Generator). There can be many instances of the same entity type (e.g. Manapouri and Huntly are both instances of the Generator entity type.
Traits are data elements that describe an entity. For example, each Generator entity has several traits such maximum output or Injection Node.
Entity.Trait references can be used constructing formulae in most EMarket data entry fields.
F
Forecast (n)
The output (data set) from a single execution (Run) of the model using a Run definItion
Forecast (v)
The process of using the EMarket model to simulate the behaviour of the NZ electricity Market under a specific set of conditions.
G
Generation
The electrical energy produced by one or more generators measure in MW or MW/h.
Generation Company
A real or supposed Company offering electricity into the NZ Electricity Market.
Generator Resource
Specifies the physical characteristics of a generation facility (e.g. maximum capacity, efficiency etc). EMarket allows several 'logical' versions of the same physical Generator to be defined.
Grid Resource
Specifies the physical arrangement of circuits and Nodes in a specific Grid configuration.
I
Infeasibility
A situation in which a feasible dispatch solution cannot be calculated from a given set of Dispatch Factors.
M
Map
A multi-featured map-based graphical presentation of the Current Data Set.
Marginal Generator
A Generation Unit, the output of which varies in response to changes in load while the output of other Units is held constant.
Market
The New Zealand electricity wholesale market where the spot price for electricity is determined.
Market Operator
A collective term for the service providers of number of operational and administrative services to the market under the wholesale and retail sections of the rules
Market Participant
Any party involved in the regulation and operation of the NZ electricity Market:
- retailers
- distributors
- generation companies
- consumers
- line owners
- service providers
- metering equipment owners
- ancillary service agents
- data administrators
- system operator
O
Offer
An Offer by a Generation Company to sell a quantity of electricity at a specified price for a specific Trading Period.
P
Power Flow
For a given circuit, the average quantity of electricity (in MW) calculated to be flowing in the circuit in any one trading period.
Price
The price of electricity calculated through dispatch for a single Market Node in a single Tick.
R
Regions Resource
A collection of user-defined geographic Regions (as a set of Nodes).
Reports Resource
Specifies which pre-designed Reports and data summaries will be created at Forecast run time. Reports not generated at run time can be generated from the Binary Output data at any subsequent time (providing the binary data has been generated through the binary data output specifications).
Resource
The Resource is a core building block in EMarket. It is a specific configuration of a modelling, scheduling or data formatting element used to:
- specify a Forecast scenario
- schedule and control the production of a Forecast
- format the output of Forecast data
Run
The operation where EMarket creates a Forecast by executing the model using a specific instance of a run definition.
Run Definition
The set of input data required by EMarket to effectively execute a single Forecast Run of the model.
S
Schedule Resource
Schedule Resources allow you to specific in-run control over various aspects of a Run during its execution.
SPD
The Scheduling, Pricing and Dispatch software used by the System Operator and the pricing manager.
Supply Curve
The Supply Stack for a given Tick represented as a chart of Offer Price versus Offer Quantity.
System Operator
A service provider responsible for day-to day scheduling and dispatching of electricity on the Transmission System (currently Transpower).
T
Tick
The term 'Tick' refers to Demand information which EMarket requires to drive a simulation One Tick is a specified period, over which EMarket simulates the market with one dispatch. A Tick can be as short as half an hour, or as long as a whole month.
TPIX
Transpower Information Exchange: a computer system providing SCADA events and energy, wholesale market prices and schedules, network model and Reserve market information to market participants.
Trading Period
The fundamental half-hour interval for which individual Market Prices are calculated.
Transmission System
The national grid: a high-voltage electricity transmission network owned and operated by Transpower, and used to transmit electricity throughout New Zealand.
W
Windows Clipboard
A Windows feature that allows you to copy and move information within an application or among applications. The Windows Clipboard temporarily stores the information in memory before you paste the data in a new location.
Working Directory
A set of folders containing an independent EMarket modelling environment. Instructing EMarket to change the current Working Directory causes the program to reconfigure itself using the resources available in the new directory.