Objective: To provide a working knowledge of nodal dispatch and pricing as it applies to the New Zealand electricity spot market, and the ability to recognise the cause of common nodal pricing effects.  Discover how energy and instantaneous reserves are managed to secure the supply of electricity, and how the "spring washer effect" can create price spikes and dips.

Prerequisites: Intro to the Electricity Market.  Alternatively, some familiarity with the electricity spot market including an overview knowledge of the SPD and RMT models, and with the processes and timing of publication of final, and other prices.

Videos:  Prior to the course, participants should watch this short video covering introductory and overview(link is external) material for the course.  After the course, participants will be given access to two videos, one providing more details on the "spring washer effect" and one providing a brief description of how "SFT constraints" are formed.

1. Market Processes and Models for Dispatch and Pricing
   Dispatch and pricing processes
   Dispatch and pricing models – SPD and RMT
   Dispatch cost function
   Constraints in dispatch and pricing models
   Shadow prices
   Nodal energy prices and reserve prices defined
   Losses and constraints excess
2. One Node ‘Markets’
   Dispatch and pricing of energy
   Reserves risk offsets
   Dispatch and pricing of reserves
   Dispatch and pricing effects for energy-reserve constrained dispatch
   Dispatch and pricing dominated by reserves
3. Adding Lines and Losses
   Pricing effects of losses in AC and DC lines
   Linear versus quadratic losses
   Contribution of losses to the ‘losses and constraints excess’
   Loss modelling in SPD
4. The National Market for Reserves
   Sharing of reserves in the forward and reverse directions
   HVDC operating modes and round power
   Examples and case studies for various combinations of offers and modes
5. Congested Networks
   Line limits
   Pricing effects of simple line constraints
   Contribution of constrained lines to the losses and constraints excess
   “Spring washer effect” due to line constraints in loops in the Grid

Note: Only simple arithmetic is used in this course.  Simple examples using a few nodes at most are used to assist learning.  Course material may also vary from the above on the day.

Prices are GST exclusive - Download Course PDF

Please note, if you are located outside of New Zealand and wish to book a course, please send us an email.