Minor EMIX has updated the list of transactive states. Transactive states control the conformance and situation for communications, inclduing events. The current EMIX Transactive States are:
Indication of Interest Indication of Interest is a non-binding offer or request for offer for a transaction that may or may not indicate price and quantity and other terms..
Tender A Tender is a binding offer or bid for a Transaction by a party that when accepted by a counter party will resulting in a binding Transaction. ISOs use the term Bids to describe offers and bids into their markets.
Transaction A Transaction between two parties is a binding agreement
Exercise Exercise applies to two-part Transactions such as Ancillary Services Dispatch by ISOs, Call and Put Options and DR event dispatch that have an initial agreement that includes a second step to that results in another Transaction.
Transport Commitment Transport Commitment is what the ISOs call "Transmission Scheduling" which is a Transport product and not an energy product transaction. Since the distribution grid may require such transactions or schedules in the future we use the term "Transport"
Delivery Delivery, which includes both Production and Usage, is the act of actually generating and consuming power that is measured by meters and reported for settlement to the parties. Delivery also names the enumeration of the Delivery.
Price Publication Price Publication is the act of general announcement or posting of appropriate prices and other information concerning products. Price Publications are not Tenders or Indications of Interest.