Time resolution

Prodrisk uses weekly decision stages. That is, for each week all uncertainty is assumed known at the beginning of that week and for the whole week. The week can be further divided into load periods / price periods. The load periods can be arranged in sequence, e.g., Monday 0-8, Monday 8-20, and so on. We refer to load periods arranged in sequence as sequential load periods / price periods. Alternatively, load periods can be ordered according to some other criterion, e.g., system load such as ‘high load, ‘medium load’ and ‘low load’. We refer to such non-sequential load periods as accumulated load periods / price periods.

Finally, one can define one load period per week, which we refer to as weekly resolution. Aggregation is done within the entire week. Market steps having equal price in multiple load periods will be aggregated, with the aggregate quantity equal to the sum of each original step’s quantity. Prices from an exogenous price series are aggregated by weighting the price in each load period according to the relative length of the load period.