In this article we discuss the 1st of 3 Potential Tripwires that wholesale market participants and others will encounter from October 2021 … with Tripwire #1 coming from the implementation of Five Minute Settlement.
In part 5 of this expanding Case Study of the unexpected price spike on Tuesday 13th Oct, linked to a large & sudden drop in output across 10 solar farms, we take a detailed look at the constraint set ‘Q-BCNE_821’ invoked to deal with the transmission outage between H11 Nebo (in ‘North’ zone) and H10 Bouldercombe (in ‘Central-West’ zone)
Highlighting the different approaches taken to cost/price based dispatch in an interconnected electricity system (or market).
Walking through 5 (much simplified) “Dispatch Intervals” to illustrate some starting principles of marginal price based dispatch arrangements, such as used in the National Electricity Market