Title :
Spatial market integration upon expanding PJM electricity market
Author :
Jin, Licheng ; Hennessy, David A.
Author_Institution :
California ISO, Folsom, CA, USA
Abstract :
This paper conducts an empirical analysis to examine the degree of market integration in the PJM electricity market as a way to evaluate the transmission open access and market efficiency. PJM electricity market was established in 1997. However, from May 2004 to May 2005, the market was expanded greatly. The impact of the market expansion on the degree of market integration is studied. The test results indicate a high degree of market integration after the market expansion.
Keywords :
power markets; electricity market; market efficiency; spatial market integration; transmission open access; Costs; Electric shock; Electricity supply industry; Electricity supply industry deregulation; Power generation economics; Power industry; Power markets; Power system modeling; Pricing; Testing; Spatial market integration; electricity market; unit root test;
Conference_Titel :
Power & Energy Society General Meeting, 2009. PES '09. IEEE
Conference_Location :
Calgary, AB
Print_ISBN :
978-1-4244-4241-6
DOI :
10.1109/PES.2009.5275306
