A bid solicitation and selection method for developing a competitive spot priced electric market

Author

Ancona, Jerry J.

Author_Institution

Niagara Mohawk Power Corp., Syracuse, NY, USA

Volume

12

Issue

2

fYear

1997

fDate

5/1/1997 12:00:00 AM

Firstpage

743

Lastpage

748

Abstract

The electric utility industry is in the beginning throes of a transformation from a cost-based regulated structure to a more market-based less regulated system. Traditional unit commitment and economic dispatch methodologies can continue to provide reliable least-cost solutions, providing they are modified to accommodate a larger sphere of market participants. This paper offers a method for an entity such as an independent system operator (ISO) to solicit and evaluate bids for developing a spot priced electric market by replicating existing utility practices that are effective and efficient, while creating an open and equitable competitive marketplace for electricity

Keywords

contracts; economics; electricity supply industry; tariffs; bid selection method; bid solicitation; competitive marketplace; competitive spot priced electric market; economic dispatch; electric utility industry; independent system operator; least-cost solutions; market participants; unit commitment; Costs; Electricity supply industry deregulation; ISO; Maintenance; Power generation economics; Power industry; Power system economics; Power system reliability; Security; USA Councils;

fLanguage

English

Journal_Title

Power Systems, IEEE Transactions on

Publisher

ieee

ISSN

0885-8950

Type

jour

DOI

10.1109/59.589669

Filename

589669