What is PEMC?
PEMC stands for Power Exchange Market Clearing, it is a system used in the energy industry to match electricity supply and demand and determine market prices.
How does PEMC work?
PEMC uses a complex algorithm to match electricity supply and demand based on bids from power plants and other energy sources.
What is a dispatchable power source?
A dispatchable power source is a type of electricity generation that can be turned on or off, or have its output adjusted, to match changes in electricity demand.
What is a non-dispatchable power source?
A non-dispatchable power source is a type of electricity generation that produces a constant amount of electricity regardless of changes in demand.
How do I participate in PEMC?
If you are an electricity supplier, you can participate in PEMC by submitting bids for your electricity supply. If you are a consumer, your electricity provider will participate on your behalf.
What is market clearing?
Market clearing is the process of matching electricity supply and demand and determining the final market prices.
How are prices determined in PEMC?
Prices in PEMC are determined through a competitive bidding process, where suppliers bid the price at which they are willing to sell electricity and consumers bid the price at which they are willing to buy.
What is the difference between real-time and day-ahead market?
Real-time market refers to electricity transactions that occur in real-time, while day-ahead market refers to transactions that are made a day in advance.
Why is my electricity bill higher?
Your electricity bill may be higher due to increased market prices, changes in your consumption, or additional charges for transmission and distribution.
What is a congestion charge?
A congestion charge is an extra charge levied by the market operator when there is an imbalance between supply and demand in a certain region, resulting in a higher cost of using transmission lines.
What is an imbalance settlement?
Imbalance settlement is the process of settling the differences between the amount of electricity delivered to the grid and the amount settled in the market.
What is a dispatch instruction?
A dispatch instruction is a command given to a power plant to increase or decrease electricity production in response to market conditions.
What is an energy imbalance?
Energy imbalance refers to the difference between the amount of electricity forecasted and the amount actually consumed or produced.
Why does my device show a PEMC Error message?
Your device may show a PEMC Error message if there is a problem with the PEMC system, such as a technical issue or an incorrect input.
How do I fix a PEMC Error?
To fix a PEMC Error, try restarting your device and ensuring that all inputs are correct. If the error persists, contact your electricity provider for assistance.
Why is my device displaying a Market Clearing Failed message?
This message may indicate a failure in the market clearing process, which could be due to technical issues or insufficient bids to meet electricity demand.
How can I learn more about PEMC?
You can learn more about PEMC by visiting the official website of the Independent Electricity Market Operator (IEMO) or by contacting your electricity provider.
What happens if the market fails to clear?
If the market fails to clear, the system operator may implement emergency measures, such as load shedding, to balance supply and demand.
What is load shedding?
Load shedding is a last resort measure taken by the system operator to reduce demand and prevent a power outage during times of high electricity demand.
How can I report a problem with PEMC?
You can report a problem with PEMC by contacting the system operator's customer support or your electricity provider.
Is PEMC affected by weather conditions?
Yes, extreme weather conditions such as storms or heatwaves can affect electricity supply and demand, and therefore impact PEMC.
Can I change my bid after it has been submitted?
No, bids cannot be changed once they have been submitted. However, you can withdraw and submit a new bid if necessary.
How is renewable energy integrated into PEMC?
Renewable energy sources are integrated into PEMC through their bids and must adhere to certain market rules and regulations.
What is a reserve margin?
A reserve margin is the extra electricity production capacity available to meet unexpected increases in demand or sudden power plant outages.
Why is the market closing price important?
The market closing price is important as it affects the cost of electricity for both suppliers and consumers and determines the next day's bids.
What is the difference between an offer and a bid?
An offer is the price a supplier is willing to sell electricity at, while a bid is the price a consumer is willing to buy electricity at.
How does PEMC ensure fair competition?
PEMC ensures fair competition by enforcing market rules and regulations and preventing any type of market manipulation or anti-competitive behavior.
Where can I find historical market data and prices?
You can find historical market data and prices on the IEMO website or through your electricity provider's customer portal.
