Page 13 - Annual Report 2023
P. 13

periodically  by  the  regulator.   This  is  notable  that  the  mandatory  regulations
                prohibit capacity withholding. IREMA  drives a single side auction, so the
                purchase curve only shows the total demand per hour. IGMC is responsible to
                find the cheapest least-cost      1
                                                                                                        by
                considering                        ,                   Power Market Annual Report  1401    9






























                                                Figure 4: Spot Market Process




                                    Security Constraint Unit Commitment (SCUC)








                      Maintenance      Price Offer      Energy Trades in        Fuel         Technical
                     Programs and      for Energy      PEX and Bi-lateral       Forecast   Specification
                         Limitations     Generation         Contracts                           on
                                                                                              Generators


                                                   Figure 5: SCUC inputs







                 Payments to Sellers

               Capacity Payment
                1
                642,000 Rials/MWh and from 2022-09-15 to 2023-03-20 is
               • To all the units ready to produce Energy                               m  in fiscal year.
                                                                                          �
               • Based on available capacity, not used capacity


               • Motivational factor for being available during peak hours (Capacity Payment Factor (CPF))


                                                            7
               In order to attract and retain adequate resources for the reliable operation of the energy market,
               revenues from energy, ancillary services and capacity must be adequate to cover the overall cost
               of power plants. The capacity payment plays vital role of assuring the revenue sufficiency of the
               suppliers as well as reducing the magnitude of inappropriate price volatility.
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