Real-time pricing was introduced in the New Zealand wholesale electricity market on 1 November 2022, resulting in a new price series - dispatch reserve prices.
Dispatch reserve prices are typically derived from the RTD instance of the SPD model and made available to the market in real time by the pricing manager. Occasionally the most recent PRSS (short price-responsive schedule) price will be used if no RTD price is available. And if scarcity pricing is in effect, the dispatch reserve price will be derived from the RTDP (RTD for pricing) schedule.
Reserve prices are produced throughout a trading period at intervals ranging from one to several minutes in duration. At the end of the trading period, interim reserve prices for the trading period will be calculated as the time-weighted average of the dispatch reserve prices for that period. If no pricing error claims are subsequently lodged, interim prices will be declared to be final prices by 2pm the following business day.
Reserve prices are collated into a single daily CSV file, grouped by year, and made available early each morning. The file schema is as follows:
|Name||Date modified||File size|
|2023||30 Sep 2023|
|2022||03 Jan 2023|
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