Testing and Validation of FTR Results in NZEM

Chakrabarti, Bhujanga (2017) Testing and Validation of FTR Results in NZEM. IEEE Smart Grid Technology, Auckland, New Zealand, 19-26 November, 2017.

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Abstract or Summary

Abstract— This paper presents an auction and pricing model for both obligation and option Financial Transmission Rights (FTRs). A number of cases are established and run using our model and the FTR auction results are compared with those using a new FTR software from a reputed vendor. Two methods of FTR clearing price calculation are proposed for each studied case. Though some of the results are known and in use by a few system operators, the proposed model and case studies demonstrate clearly the FTR clearing mechanism and price formation, using varieties of cases. The case studies presented in this paper are very helpful for testing and pre-auditing a new FTR program from a vendor and for tutorial purpose.

Item Type:Paper presented at a conference, workshop or other event, and published in the proceedings
Keywords that describe the item:Index Terms—Electricity Markets, Financial Transmission Rights, FTR awards, Locational Marginal Price, LMP, obligation FTRs, Option FTRs, Shift Factors, System Operator, Transmission Congestion.
Subjects:T Technology > TK Electrical engineering. Electronics Nuclear engineering
Divisions:Schools > Centre for Engineering and Industrial Design
ID Code:6815
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Deposited On:12 Apr 2019 03:17
Last Modified:12 Apr 2019 03:17

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