Bidding Factor Column
Column Type = Text
The Bidding Factor column allows you to specify a bidding factor, which will be added to one and multiplied by the total resource variable cost to get the dispatch cost for the resource. This simulates bidding at prices that are greater than the cost of a resource. The commitment penalty for non-committed non-cycling units will override any bidding factor and/or bidding adder set for those units. For both “Must Run” and committed units, bidding is only applied to the dispatchable segment of the unit and not the minimum segment.
Example:
Dispatch Cost = Incremental Cost * (1+Bidding Factor)
If the Bidding Factor is .2 and the Incremental cost is $30/MWh then the Dispatch Cost = 30 * (1+.2) = 36 $/MWh
Where incremental cost includes the VOM, fuel, and emissions costs.
NOTE: The Use bidding logic switch must be set to apply bidding logic to the study, located in the Resource folder of Simulation Options. The use of bidding logic will override any general resource dispatch margin specified for the study.
NOTE: If a resource references the Heat Rate Definition (HRD) table, the bidding columns in the Resources or New Resources tables will be ignored for that resource. All Heat Rate and UBB information should then be entered in the HRD table.
NOTE: If the FUEL reference is specified for this variable the value in the Fuel Table will be applied.
NOTE: Inputs can be specified for any time period (annual, monthly, weekly, hourly or sub-hourly). For information on how to specify a time series for a variable, see Entering a Time Series.
Bidding Factor Column