The formulation of the Settlement Residue Auction Solver Algorithm was prepared as the Market Clearing and Pricing Methodology by Putnam, Hayes & Bartlett – Asia Pacific Pty Ltd dated 29 April 1999. The document has been renamed and comprehensively revised by Charles River Associates International Pty Limited as at 25 August 2006. The revised document recognises:
- the New South Wales to Queensland and Queensland to New South Wales Directional Interconnectors;
- the linking of Unit Categories in different Relevant Quarters; and
the setting of Reserve Prices to zero.
Please note that reserve price handling functionality has not been removed from the software and so has been retained in the revised formulation document. Reserve prices for units are always set to zero to satisfy Auction Rule requirements and may be ignored for all practical purposes.
For further information on this document, please contact: John Fisher, Settlement Residue Administrator
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Mathematical Formulation of Settlement Residue Auction Algorithm - 14 Sep 2006 |