Regional Reference Price — the wholesale spot electricity price ($/MWh) at a given dispatch interval.
The Regional Reference Price (RRP) is the wholesale spot price of electricity, in dollars per megawatt-hour, calculated by AEMO for each of the National Electricity Market's five regions (NSW, VIC, QLD, SA, TAS) every five-minute dispatch interval. It is the price every generator, battery and load in that region is settled against for that interval, subject to each connection point's marginal loss factor.
RRP is the primary signal a merchant battery responds to: charging when it is low, discharging when it is high. NEMPulse's energy-arbitrage revenue figures, and its perfect-foresight and forecast-informed optimal benchmarks, are all built directly from AEMO's published RRP series.
Related terms: MLFEnergy Arbitrage
See also: Market economics
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