Balancing Power Calculation
Balancing Power is the difference between the amount of energy (ore more precisely the amount of one particular product)
a participant acquired through trading in the market and the true demand for this product. The true demand is ex-ante
unknown but approximated with gradually increasing precision over time forecasts the participant receives on each simulation
time shift.Balancing power demand is calculated for all products (timeslots) after the competition has finished.From a energy consumer's point of view, two cases for balancing power provisioning have to be distinguished:Case 1: Insufficient energy in stock
Example: A Participant had a true demand of 100 units of a certain product but managed to acquire only 50 units.
In this case the difference of 50 units is booked into the participants depot after the competition is finished
in parallel with a cash deduction for the missing 50 units, that are billed at a balancing power price.
The balancing power price for excess demand is calculated as the highest historic price that occurred for this
particular product during trading and is further increased by Competition.balancingCostUnder
, which is freely
defineable for each competition (Default: 0).If no trade occurred in this product during the competition runtime the average trade price across all other
products is calculated instead as balancing power price.If not trade occurred at all during the competition runtime (which should never be the case in reality) an
arbitrarily chosen price of 111 is used as balancing power price.
Case 2: Excess energy in stock
Example: A Participant had a true demand of 100 units of a certain product but acquire 110 units.
In this case the difference of 10 units is deducted from the participant's depot after the competition is finished.
If Competition.balancingCostOver
is set to a value > 0, the amount of money for each unit of excess energy is
additionally deducted from the participant's cash account as balancing power fee for excess demand.From an energy supplier's point of view the rules are applied vice versa.