Region Load Settlement Model

Units:	-
Mode:	Input Only
Multi-band:	False
Default Value:	2
Validation Rule:	In (0,1,2,3,4,5,6,7)
Key Property:	No
Description:	Model used to determine price paid by loads.
Detail:

Region Load Settlement Model sets the methodology used to set prices paid by all loads:

Locational Marginal Pricing (Nodal Pricing) (value = 0)

Loads pay the locational marginal price at the node.

Regional Reference Pricing (value = 1)

Loads pay the regional reference price i.e. the locational marginal price at the regional reference node.

Regional Load Weighted Price (value = 2)

Loads pay the load-weighted average of locational marginal prices in their region.

Uniform Pricing (value = 4)

Loads pay the single market price (uniform pricing).

None (value = 5)

The loads make no payment for energy purchased.

Custom (value = 6)

PLEXOS makes a call to OpenPLEXOS to calculate pricing. This method allows the user to implement custom pricing.

Most Expensive Dispatched (value = 7)

The price is set at the SRMC of the most expensive dispatched Generator regardless of whether or not that Generator is truly marginal. If there are imports from other regions, those imports will be treated as extra generators. If the importing generators have a higher price, Region Price will be set to the neighbouring Region Price.

In addition to this, if the Generator has user defined offers i.e.Offer Quantity and Offer Price are set, then the Price is interpolated via a piecewise linear curve. In this case when a load falls in between two price bands the price will also be set to lie between those bands rather than selecting the upper band price. This method is based on the Nord Pool Spot Market. See also Offer Quantity format.

Note: That this feature assumes that the offers are cleared in order, therefore you must enable the Generator Offers Must Clear in Order if the offers are non-monotonic.

Note that the price paid to generators is set by the Generator Settlement Model property.