About
This one day course provides a detailed look at nodal pricing, by working through the concepts and investigating historical pricing situations. The course commences with simple examples, gradually adding concepts, to provide attendees with sufficient tools to dissect real-life pricing situations.
Key Learning Objectives:
• Understand terminology relating to Nodal Pricing
• Understand the dispatch and pricing models used in NZ
• Understand energy and reserve offers and losses on dispatch and pricing
• Understand constraints (i.e. reserves, energy & lines) and the effect on dispatch and pricing
• Understand pool surplus and FTRs
Who should attend?
Those with a familiarity of the electricity market who wish to gain more detailed knowledge on nodal pricing, included but not limited to:
• Pricing Analysts
• Energy Traders
• Commercial Analysts
Our Fundamentals of the NZ Electricity Sector course is an ideal precursor course.
Outline
Introduction to Nodal Pricing
• Overview of Terminology used in Nodal Pricing
• Market design i.e. SPD, RTD and shadow prices
Simple Network examples showing effect on dispatch and nodal prices of:
• Energy offers
• Reserve offers & IRAFs
• Line Losses – linear VS quadratic losses
Complex Network examples showing effect on dispatch and nodal prices of:
• Constraints on Energy
• Constraints on Reserves
• Constraints on Lines incl loop & spring washer effects
• HVDC link constraint
Pool Surplus
• Definition, history, contributors
• Surplus generated by line constraints
• Surplus generated by HVDC setting reserve risk
FTRs
• Definition and need
• Simple FTR example
• FTR example taking into account losses
Facilitators
Lesley Walmsley
Lesley Walmsley entered the energy sector in 2000, as an Energy Consultant and has also been involved in a number of projects in the generation, retail and metering sectors of the industry. She has performed:
- electricity market analysis, modelling and forecasting for the New Zealand, Singapore and England/Wales markets
- risk analysis, energy valuations and procurement facilitation
- analytical and management roles on various electricity market software and business development projects including advanced metering integrations, generation logging retail account management tools.
David Kemshall
David Kemshall commenced in the energy industry in 2002 and has held commercial roles in the largest NZ distribution company, managing transmission and demand-side activities including load control and the reserves market. He has also held a senior account management role with one of the largest retailers. Of recent times, David has moved into energy consulting for business and industry participants in areas such as:
- risk analysis, energy valuations and procurement
- Demand-side management initiatives and business c
- instantaneous reserves market
- metering audits and compliance
- contracts and customer management
In-house Training
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