Application of locational marginal pricing in the PJM market

Author

Ott, Andrew L.

fYear

0

fDate

0-0 0

Abstract

Summary form only given. This paper provides a functional overview of the PJM locational pricing application in the day-ahead and real-time energy markets. The day-ahead locational prices are calculated for each hour based on scheduled conditions for the next operating day and real-time locational prices are calculated every five minutes based on actual system conditions. In addition to providing an overview of the LMP calculation process, the paper discusses the data validation techniques, error condition processing, audit controls and quality assurance methods that are an integral part of the market price calculation process. These price and data validation procedures provide market participants with confidence that the posted LMP prices are correct. The paper also details the PJM / MISO market-to-market congestion management coordination process and its integration into the real-time LMP calculations

Keywords

power markets; pricing; MISO; PJM market; audit controls; data validation techniques; day-ahead energy markets; error condition processing; locational marginal pricing; market-to-market congestion management coordination process; quality assurance methods; real-time energy markets; Error correction; Pricing; Process control; Quality assurance; Real time systems;

fLanguage

English

Publisher

ieee

Conference_Titel

Power Engineering Society General Meeting, 2006. IEEE

Conference_Location

Montreal, Que.

Print_ISBN

1-4244-0493-2

Type

conf

DOI

10.1109/PES.2006.1709585

Filename

1709585