Fuel Price

Units: $/~
Mode: Input/Output
Multi-band: False
Default Value: 0
Validation Rule: Any Value
Key Property: No
Description: Fuel price
Detail:

This is the per Unit price of the fuel.

Price Input

Table 1: Example Fuel Price
Fuel Property Value Units
OIL Price 50 $/bbl
GAS Price 9 $/GJ


In the example in Table 1, the price of "OIL" is $50/bbl (which has an Energy Density of 6118 MJ/bbl), thus its implied price per unit of energy is 50/(6118/1000) = $8.17/GJ. "GAS" however is simply $9/GJ.

Price Output

For interval data, if Price is defined as input then it sets the output Price. Otherwise if there are no Fuel Contracts associated with the Fuel the Price is set by the Shadow Price. Finally, if there is one or more Fuel Contracts on the Fuel then the Price is defined as:

Price = SUM (Fuel Contracts) (Price x Offtake)/ Fuel Offtake


In summary data Price is defined by this ratio. If Offtake is zero in any period then this volume-weighted Price is also zero. You can see the time-weighted version in the property Time-weighted Price.