Title :
Practices of system security pricing
Author :
Chen, Hong ; Liu, Jianwei
Author_Institution :
PJM Interconnection, Norristown, PA
Abstract :
Due to physical constraints of electric power system, electricity markets are designed and operated based on secure power system operation. System security has to be considered together with economic efficiency in the design and operation of wholesale electricity markets. This panel will present the practices based on two major US electricity markets, and discuss the challenges in practical market operation.
Keywords :
power markets; power system economics; power system security; pricing; economic efficiency; electric power system; power system security pricing; wholesale electricity markets; Costs; Economic forecasting; Electricity supply industry; Energy management; Job shop scheduling; Power generation economics; Power system economics; Power system security; Pricing; Real time systems; Ancillary Services; Electricity Market; Locational Marginal Pricing (LMP);
Conference_Titel :
Power and Energy Society General Meeting - Conversion and Delivery of Electrical Energy in the 21st Century, 2008 IEEE
Conference_Location :
Pittsburgh, PA
Print_ISBN :
978-1-4244-1905-0
Electronic_ISBN :
1932-5517
DOI :
10.1109/PES.2008.4596585
