For each FRRS-Up offer from Resource partly modeled as Load Resource , the following “Quick/Fast” equation holds true If the FRRS-Up offer is marginal to the Reg-Up Procurement constraint, then, and the FRRS-Up Offer i sets the shadow price for the Reg-Up Procurement constraint (this is the Reg-Up MCPC ) i If the FRRS-Up maximum procurement constraint from Resource is binding then . In this case the MCPC for Reg-Up is still the shadow price of the Reg-Up procurement constraint () and the FRRS-Up awards to Resources will be paid this price “Quick/Fast” For each FRRS-Down offer from Resource partly modeled as Load Resource , the “Quick/Fast” following equation holds true If the FRRS-Down offer is marginal to the Reg-Down Procurement constraint, then, and the i Offer sets the shadow price for the Reg-Down Procurement constraint (this is the Reg-Up i MCPC ) If the FRRS-Down maximum procurement constraint from Resource is binding then . In this case the MCPC for Reg-Down is still the shadow price of the Reg-Down procurement constraint () and the FRRS-Up awards to Resources will be paid this price “Quick/Fast” Note: If there is scarcity in any of the AS (Reg-Up, Reg-Down, RRS, SOR and NSOR), then the demand curves prices at the last cleared MW AS demand on the respective demand curves will set the Shadow Prices of the applicable procurement constraints. MCPC formula (from shadow prices) AS MCPC Comments Product Reg-Up Shadow of the Reg-Up procurement (including FRRS-Up) constraint FRRS-Up FRRS-Up is valued the same as Reg-Up Shadow price of the Reg-Down procurement (including FRRS-Down) constraint FRRS-Down is valued the same as RRS Shadow Price of the RRS procurement constraint SOR Sum of the Shadow Prices of the SOR and NSOR procurement constraints NSOR Shadow Price of the NSOR procurement constraint
For each FRRS-Up offer from “Quick/Fast” Resource partly modeled as Load Resource , the following equation holds true If the FRRS-Up offer i is marginal to the Reg-Up Procurement constraint, then, and the FRRS-Up Offer i sets the shadow price for the Reg-Up Procurement constraint (this is the Reg-Up MCPC ) If the FRRS-Up maximum procurement constraint from Resource is binding then . In this case the MCPC for Reg-Up is still the shadow price of the Reg-Up procurement constraint () and the FRRS-Up awards to “Quick/Fast” Resources will be paid this price For each FRRS-Down offer from “Quick/Fast” Resource partly modeled as Load Resource , the following equation holds true If the FRRS-Down offer i is marginal to the Reg-Down Procurement constraint, then, and the Offer i sets the shadow price for the Reg-Down Procurement constraint (this is the Reg-Up MCPC ) If the FRRS-Down maximum procurement constraint from Resource is binding then . In this case the MCPC for Reg-Down is still the shadow price of the Reg-Down procurement constraint () and the FRRS-Up awards to “Quick/Fast” Resources will be paid this price Note: If there is scarcity in any of the AS (Reg-Up, Reg-Down, RRS, SOR and NSOR), then the demand curves prices at the last cleared MW AS demand on the respective demand curves will set the Shadow Prices of the applicable procurement constraints. MCPC formula (from shadow prices) AS Product MCPC Comments Reg-Up Shadow of the Reg-Up procurement (including FRRS-Up) constraint FRRS-Up FRRS-Up is valued the same as Reg-Up Shadow price of the Reg-Down procurement (including FRRS-Down) constraint FRRS-Down is valued the same as RRS Shadow Price of the RRS procurement constraint SOR Sum of the Shadow Prices of the SOR and NSOR procurement constraints NSOR Shadow Price of the NSOR procurement constraint
RT_Co-optimization_DRAFT_06282017_v5.BPS_fjt.docx