View source for EMK:Dispatch, Pricing and Power Flows

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'''Disclaimer'''
Reasonable care has been taken to ensure that the information in this paper is up to date at the time of issue.  Potential users of ''EMarket'' should, however, ensure that they evaluate ''EMarket'' and this paper through an appropriate evaluation process in consultation with Energy Link.  The authors are also reliant on certain information external to ''EMarket'' and Energy Link, for which no liability or responsibility can be accepted.

== Introduction ==
This technical bulletin is intended to provide users and interested parties with a detailed explanation of how ''EMarket’s'' IQP dispatch and pricing module functions, including the DC power flow calculations embedded within it.

=== Other Documents ===
This bulletin is one of a series of technical bulletins relating to Energy Link’s ''EMarket'' and ''EMarketOffer'' (EMO) models.  Taken together, the bulletins replace the old ''EMarket'' User Guide.  A full series of bulletins covers an overview of the ''EMarket'' model,  the details of the four major New Zealand hydro systems modelled in ''EMarket'', water values and hydro offers, power flows, dispatch and nodal pricing, short term river chain optimisation and company optimisation.

== Dispatch ==
Dispatch and pricing in ''EMarket'' and ''EMO'' are primarily determined by the methodology specified in Schedule 1 of Part 2 of the New Zealand Electricity Governance Rules (EGRs).  The market implementation of these methodologies is currently Trans Power's SPD model which is a large scale LP.

Reserves modelling is required within ''EMarket'', primarily due to their impact on generation.  The reserve constraints are straight forward to model in principle, however, a major concern with reserves is the large number of reserve constraints which combine to significantly increase the processing time, often for little or no additional accuracy.

RiskOffsets are also required for the modelling of reserves.  These are calculated for SPD using TransPower's RMT tool which is a complex non linear dynamic model of the generation and load on the Grid.  RMT is too complex to implement within ''EMarket''.

In ''EMarket'' and ''EMO'' dispatch, pricing and power flow are achieved by Energy Link’s IQP software module.

=== Optimum Dispatch ===
The dispatch objective function from Schedule G6 of Part G of the EGRs is to maximise the net purchaser surplus.

==== EGR Dispatch Objective ====
[[File:DP E1.jpg]]