Message 60

Severity:	Serious (value = 2)
Default Action:	Error (value = 0)
Description:	Region <name> implied maximum offer price for dynamic bidding (Region VoLL or Region Price Cap) - Competition Epsilon < 0.
Detail:

Message 60 is a warning that the implied price cap for Generator Offer Price in the selected dynamic bidding model (see Competition settings) is below zero.

To avoid dynamically calculated offer prices going above the maximum price allowed in the market the parameter Epsilon is subtracted off that maximum and forms a cap on those prices i.e. the cap is:

MIN ( Region VoLL, Region Price Cap ) - Epsilon

Values for Epsilon are generally small such as 0.01, whereas VoLL or Price Cap are generally large values such as 10000.