1.  System Marginal Price

• SMPt = Max(SPi,t), for each generator i and time t

2.  Market Price

• MPi,t = {Max (Min(SMPt,PC), SPi,t)} *{1-(1-TLFi,t)*IMF}
  > PC = Price Cap
  > TLF = Transmission Loss Factor
  > SP = Supply Price
  > IMF = relation factor

3.  Electricity payment setting

• SEP (Scheduled Energy Payment)
• CON (Constrained-ON energy payment)
• TPCP (Trading period capacity payment)
• COFF (Constraint-OFF energy payment)
• GSCON (Payment by market price for minimum energy produced due to Generator-self Constraint)
• SCON, etc.

Electric Price such as SCON and GSCON are a function of planning result  >  repeat calculation is applied: