New vectorised scheduling, pricing and dispatch model

The Electricity Authority is responsible for developing, maintaining and updating the vectorised scheduling, pricing and dispatch model called vSPD. We use vSPD to simulate and analyse the New Zealand electricity market.

vSPD is a replica of SPD which is an audited, mathematical pricing and dispatch engine used in the New Zealand electricity market.

On 1 November 2022, we updated vSPD with new features and a modified data structure to exclusively support real-time pricing.

We are working on more updates and will release vSPD version 5.0.2 in 2024 which will include:

• Daily GDX input file consolidating all SPD data (RTD and PRSS) used in calculating final prices.
• New GDX data structure which will streamline the number of symbols from 108 to 42.
• New Excel-interface application for creating override data and applying it to vSPD runs.
• New vSPD online.

We would like to get feedback on vSPD from users to understand any other improvements. If you are a vSPD user and would like to take part in a workshop, please contact emi@ea.govt.nz. We welcome your input.