Bidding Logic
In addition to electricity price forecasts based on the fundamental drivers, non-fundamental price behavior can be captured by modeling bidding in the market place. Bidding logic is an optional feature in Aurora and is activated with the Use bidding logic switch in the Resource folder of Simulation Options. For the bidding logic to be implemented, use the Bidding Factor and Bidding Shape columns in the Resources, New Resources and Fuel tables. The resulting resource "Bid" is equal to (1 + Bidding Factor) x Marginal Cost x Bidding Shape.
NOTE: For must run and commitment units, bidding is applied to the dispatchable segment of the unit but not the minimum segment.
Bidding Logic
