Resource Market or Floor Contract Type
This contract type is used to purchase energy from a resource (that is running or has output) either at Market price or a Floor price whichever is greater. The Floor price is specified by the fuel pricing. Fuel pricing is determined by: [Fuel Factor] * [Pricing Fuel] (referenced by a fuel ID). Variable O&M may be included in the fuel pricing via the Energy Cost column. If only a portion of the resources output is included in the contract, an ownership share may be specified. This contract can be used to sell energy at Market or a Floor price whichever is higher by entering the ownership share as a negative value.
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The Resource ID of the resource which you are modeling the contract after is entered as the Displacement Resource.
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The portion of the resource output to be included in the contract is specified as the ownership share.The ownership share can be implemented by using the Energy Max set to the fraction ownership share desired. For example, by entering 0.5 in the Energy Max column the resulting resource energy output for this contract will reflect the 50% ownership.
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Market price for this contract is determined by placing either a master area number in the Pricing Area column or a hub number in the Pricing Hub column. A second hub (Pricing Hub 2) can also be specified which will be used in conjunction with the first Pricing Hub to set the market price. If none of these is specified, the default Area for the portfolio will be used. Market price = [Price 1] + [Energy Cost]] * [Cost Shape], where Price 1 is the referenced Pricing Area or Pricing Hub(s)
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The Floor price is determined by the [Fuel Factor] * [Fuel Price] + [Energy Cost] * [Cost Shape]. The Pricing Fuel needs to be referenced by a valid Fuel ID.
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Hourly granularity can be implemented through fuel factors, fuel prices, and energy costs.
NOTE: Users can specify an hourly limit in MWh in the optional Energy Amount Max field of the Portfolio Contract table.
Resource Market or Floor Contract Type
