Updating Bids

Modifying Bids

As conditions change, you may want to update your bid strategy. To modify a bid, submit a new curve for the relevant date range and market hours.

Partial modifications to bids are supported. Simply create a new bid for the portion of a period which you want to update.

Example [Aug. 07 2021]

Temperatures will be abnormally high next week -- leading to elevated market prices and increased performance capacity due to higher on-site load (kW).

This is a near-term opportunity to capture revenue and aid grid reliability. Using the bid above as an example, you craft a new standing bid decreasing the price to $0.30/kWh and increasing quantity_in_kw to 45. Set this bid to start in 3 days and expire 7 days later.

POST /bidding/standing_bid

{
  "meter_id": "sample-meter-id",
  "start_time": "2021-08-10T00:00:00Z",
  "end_time": "2021-08-17T00:00:00Z",
  "day_type": "business",
  "hours": [
    {
      "hour_ending": 17,
      "curve": [
        {
          "quantity_in_kw": 45,
          "price": 0.30
        },
        {
          "quantity_in_kw": 50,
          "price": 0.95
        }
      ]
    },
    {
      "hour_ending": 18,
      "curve": [
        {
          "quantity_in_kw": 45,
          "price": 0.30
        },
        {
          "quantity_in_kw": 50,
          "price": 0.95
        }
      ]
    }
  ]
}

Once the bid is received, the bid curve is updated for this period. In summary,

• Business days between Aug 10 and Aug 17 will use this bid curve for hour_ending 17 and 18.
• Days prior to Aug 10 will continue to use the existing bid curve.
• Days after Aug 17 will continue to use the existing bid curve

Cancel Bids

In some cases, you may want to cancel a bid entirely. To cancel a bid, submit an empty curve[] for the same meter and time period.

"hour_ending": 17,
"curve": []

📘

Meters with Idle & Disenroll Status

All CAISO meters that have been moved into an Idle or Disenroll participation state will have their standing bids cancelled automatically. However, until Leap can remove them from the market (typically the 1st of the month), they are still obligated to be bid in at the max price during the 4-9pm window and therefore could still get dispatch awards during extreme price spikes and grid emergencies.