Error prices in Final_pricing files?

  • Last post 18 October 2019
Geoff posted this 11 October 2019

Hi, I’m a graduate student. I am doing a small project using the final wholesale prices data. I noticed that there are prices of 100000 starts from 199802_Final_Prices.csv. There are -100000 in some other csv files. I wonder if these numbers are errors?

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msouness posted this 14 October 2019

Seems that the price is 100,000 for KPA1101, throughout Feb 1998.  

There is no volume reported aginst this GXP, so I'd suggest ignoring that GXP.


Phil Bishop posted this 18 October 2019

As Malcolm suggested, just ignore those prices.

While we have and publish final prices back to the start of the market in October 1996, I'm less than 100% certain of the reliability of the prices that we have on hand prior to the middle of 2009. These 'early' price files pre-date the Market Analytics team and I can't vouch for their providence - e.g. were they provided by the pricing manager of the day, extracted from SPD case files, or did they fall off the back of a truck?

I don't know what the infeasibility penalty was back in the day but if you see a price that is a nice round number like 100,000 or 500,000 I'd suggest it's the price given to some artificial or slack activity in the SPD model.

One day when we run out of things to do, I will attempt some integrity checking on our pre-2009 price data.