VarDescrip Column

This column holds the descriptor for the specific type of information displayed in the Val_1 (and up) columns for the record.  The entries should be self-descriptive, but contact Support for more definitional information.  

The Insufficient Res items report information pertaining to the ability to meet the planning reserve margin (PRM).

• Year - reports the year for the data reported in the column
• Max Achievable Balance - the amount of MW of the deficit (-) or surplus(+) with respect to the target PRM if all available capacity is built
• Max Achievable PRM - the percent of achievable planning reserve margin if all available capacity is built
• Target PRM - the planning reserve margin as input before the study

The InitialBal items report summary information for the initial setup.

• WorkBalance - This is reported only for the initial iteration, but it is the same thing as CapacBalance (below), i.e. Peak Capacity – Target Capacity.  It includes the new builds that are put in the system before the first iteration to meet the PRM.

The IterSummary items report summary information for each LT_Iteration.

• EconBalance - the MW total relative to the target that are economically whole without uplift.  This is computed each iteration in which retirements/new builds take place.  It is equal to the Actual Peak Capacity - Target Capacity, and it is calculated after retirements/new resource removals but before new adds are done for that iteration.

• CapacBalance -  the MW total after uplift (after units are added).  This is almost the same as EconBalance but it is calculated after the new adds are completed.  In other words, it is Actual Peak Capacity - Target Capacity at the end of the iteration after retirements and new builds are selected.  Given the above, CapacBalance >= EconBalance and the difference is the amount of MW that were added that iteration.

The Infl/Discount Info items report the study economic base year and real discount (RD) rate, along with:

• Inflation - annual values input for the inflation rate

• Nom_Deflator - the compound GDP deflator (which will move items from nominal terms in a given year to real terms in economic base year dollars)

• Nom_DiscFac -  the PV discount factor which moves a cash flow in a given year to a PV at economic base year

The Valuation Components show the resource specific info for each year of the study.

• BeginYear - In service year for the unit in that LT iteration

• CapPrice - Capacity prices for the zone used in that LT iteration.  This will be report three ways:  Real $/MW-wk, Real $/kW-yr, and Nominal $/MW-wk

• EPrice (Nom) - Average annual energy price for the resource zone observed in that LT iteration. Nominal $/mwh

• HrsRun - Number of hours the unit ran annually

• StudyAvgCapac - Average capacity of the unit for the period it is actually in they system

• NPV/MW - NPV for the unit discounted to the economic base year.  (000’s/MW)   Uses StudyAvgCapac as constant

• RLV/MW Real levelized value for the unit – NPV is levelized (annuitized) using the nominal discount rate over the period from BeginYear to the end of the study

• YrValue(Nom) - Annual value (nominal 000’s)

The MargResValStream shows information regarding the capacity marginal resources each year as well as the capacity price adjustment.

• YrValue (RL000) - Annual real value for the iteration

• CumValue after adjustment (RL000) - Value after the current year’s capacity price adjustment

• CumValue before current year adjustment (RL000) - Value before the current year’s capacity price adjustment

• ResIndex - Internal resource index used by the model

• Resource - Capacity marginal resource name

• RLV - Real levelized value for the resource for the iteration; this is the real annual levelized payment needed over the life of the plant to match the overall NPV/MW for the resource that iteration

• YrFixTot (RL000) - Annual real fixed cost for the iteration (reported when not using the CONE method)

• FixPerRelMW (RL $/kW-yr) - Annual real fixed cost for the iteration (only reported when using the CONE method).  This is equal to the total Fixed Cost of the resource in $/kW-yr divided by the peak credit.

• YRFOM (RL $/kW-yr) - Annual real fixed cost in $/kW-yr.  This will be equal to YrFixTot*1000/(52*Capacity)

• YrHrsRun - Hours the unit was running during that year

• YrEMargin (RL000) - The real average energy margin, as calculated by (Zone_Price – Full_Load_Cost)*Output, summed over all hours

• YrCapMargin (RL $/kW) - The real average capacity margin per kilowatt

• YrAvgCapacity (MW) - The average capacity for the resource for the year

• ReliableCapacity (MW) - The average capacity multiplied by the Peak Credit

• Capacity@Peak (MW) - The capacity at peak in the year.

• YrCapPrice (RL $/kW-yr) - The real capacity price for the iteration (reported when not using the CONE method)

• Cap Price ($/kW-yr) - The real capacity price for the iteration (only reported when using the CONE method)

• Prior Cap Price ($/MW-wk) - The real capacity price for the previous iteration (only reported when using the CONE method)

• Price Setter - The level at which the price is set.

• CONE - The cost of new entrant used to set the capacity payment

• RLAdjustNeeded (RL $/kW-yr) - The real adjustment to the capacity price before the next iteration (might go away)

 

 Output Tables

 LTCapacLog Output Table

 VarDescrip Column