Other business models may combine services in novel ways. An aggregator can publish an indication of interest in to buy curtailment at a given price. A business willing to respond would offer a contract to shed load for a specific price. The aggregator may accept some or all of these offers. The performance in this case could be called at the same time as the offer acceptance or later.
Communication of price is at the core all of the Energy Interoperation services. We identify four types of prices:
1. Priced Offer: a forward offer to buy or sell a quantity of an energy product for a specified future interval of time the acceptance of which by a counterparty results in a binding contract. This includes tariff priced offers where the quantity may be limited only by the service connection and DR prices.
2. Ex-Post Price: A price assigned to energy purchased or sold that is calculated or assigned after delivery. Price may be set based on market indices, centralized market clearing, tariff calculation or any other process.
3. Priced Indication of Interest: the same as a Priced Offer except that no binding contract is immediately intended.
4. Historical Price: A current price, past contracted price, past offered price, and statistics about historical price such as high and low prices, averages and volatility.
5. Price Forecast: A forecast by a party of future prices that are not a Priced Indication of Interest or Priced Offer. The quality of a price forecast will depend on the source and future market conditions.
I suggest revising as below:
Other business models may combine services in novel ways. An aggregator can publish an indication of interest in to buy curtailment at a given price. A business willing to respond would offer a contract to shed load for a specific price. The aggregator may accept some or all of these offers. The performance in this case could be called at the same time as the offer acceptance or later.
Communication of price is at the core all of the Energy Interoperation services. We identify four types of prices:
1. Priced Offer: a forward offer to buy or sell a quantity of an energy product for a specified future interval of time the acceptance of which by a counterparty results in a binding contract. This includes tariff priced offers where the quantity may be limited only by the service connection and DR prices.
2. Ex-Post Price: A price assigned to energy purchased or sold that is calculated or assigned after delivery. Price may be set based on market indices, centralized market clearing, tariff calculation or any other process.
3. Priced Indication of Interest: the same as a Priced Offer except that no binding contract is immediately intended.
4. Historical Price: A current price, past contracted price, past offered price, and statistics about historical price such as high and low prices, averages and volatility.
5. Price Forecast: A forecast by a party of future prices that are not a Priced Indication of Interest or Priced Offer. The quality of a price forecast will depend on the source and future market conditions.
I suggest the following from energy interop WD 14 be revised to address all typors of price
The current lines are:
420 Other business models may combine services in novel ways. A grid operator can publish an indication of
421 interest in buying curtailment at a given price. Business and buildings willing to respond would
422 simultaneously offer and execute a contract to shed load. The performance in this case would be called at
423 the same time or later as contracted.
424 These four services work with and depend upon a core set of price services. Shortage and abundance of
425 electricity are indicated through price. Smarter grids will be to recognize scarcity and abundance faster,
426 and to thereby be able to price better.
427 A grid pricing service is able to answer the following sorts of questions:
428 1. What is the price of Electricity now?
429 2. What will it be in 5 minutes?
430 3. What will it be at other times in the future?
431 4. What was the highest price for electricity in the last day? Month? Year?
432 5. What was the lowest price for electricity in the last day? Month? Year?
433 6. What price will electricity have for each hour of the day tomorrow?
434 7. What was the high price for the day the last time it was this hot?
435 Each answer carries with it varying degrees of certainty. The prices may be fixed tariffs absolutely locked
436 down. The prices may be fixed tariffs, ―unless a DR event is called.‖ The prices may be wild guesses
437 about open markets. With a standardized price service, technology providers can develop solutions to
438 help grid operators and grid customers manage their energy use portfolios.
Improvement
Major