Competition Class
| Description: | Competition settings |
| Detail: |
See also Competition Property Reference for a detailed list of properties for this class of object.
The Competition class groups together settings related to models of non-marginal cost and competitive bidding. To apply a Competition object to your Model add it to the Model's Competition collection. Note that associating the object with a Model defines the global settings, but you can optionally associate it with individual simulation phases e.g. LT Plan to run different settings in different phases of your simulation.
The simulator is capable of calculating Generator mark-ups statically e.g. to recover generator no-load cost or dynamically i.e. accounting for generator availability, transmission congestion as well as portfolio effects such as ownership with the Company class and contracts with the Financial Contract class.
Static mark-ups can be calculated automatically to recover no-load cost with the No Load Cost Mark-up setting.
Four dynamic mark-up methods are described in the following articles:
- Shadow Pricing (Bertrand Competition)
- Residual Supply Index
- Nash-Cournot Competition
- LRMC Recovery
NOTE: The LRMC Recovery method can be used in conjunction with LT Plan to simulate market-based pricing outcomes resulting from recovery of expansion costs.