Market based adequacy: reliability and CBM/ATC calculations. An independent system operator´s perspective

The PJM control area has employed the use of probabilistic models and statistical techniques over its a long history of reliable electric service. These models and techniques are based on fundamental concepts first described in IEEE papers in the 1960s. Throughout the more recent industry trends to transition to a competitive marketplace a clear focus on adequacy and reliability has been maintained at PJM. New rules and processes are under development to further change the adequacy model to embrace new market structures while honoring the fundamental tenants which have served PJM, its members and the public over the years.