Friday 15 January 2021

Electricity Market Operation

Market Operation Office

Responsibilities

Market operation bureau functions in the IGMC as an important part of the market operator. This bureau has two main responsibilities;

  • To clear the electricity market
  • To issue the market players' bills

As the day ahead electricity market requires, power suppliers should submit their bid 10AM in the day prior to delivery. The bids contains both the prices and the quantities. GENCOs submit their bids via Electricity Market Information System (EMIS) which is an online software. The system operator provides the scheduled outages data until 14:00, this schedule determine the power plants who are not ready to bear the system load. Fuel data is also submitted to the EMIS at this hour. Market operator derive the unit commitment schedule for the system operator based on the auction hold considering the security constrains of the power system. In fact, using the information provided in the EMIS, market operation solve the Security Constrained Unit Commitment (SCUC) to determine the market settlement results. Then, settled market output are uploaded to the EMIS and the market players access to the results based on the predefined authority. The results should be uploaded until 21:00. Figure 1. illustrates the time arrangement which is mentioned here.

Issuing the market players' bill is also the responsibility of the bureau of market operation. Based on the power market settlement results and what is physically occurred in the day of power delivery, the market players' bills are issued. Real data of generation and consumption are measured and fed to the electricity market information system via telemetering infrastructures. These data are compared with the market settlement results. Briefly, the revenue of GENCOs depends on their bidding strategy and the ability to follow their schedule which is derived based on the market settlement mechanism.

Figure 1. Market operation timing