Locational marginal pricing-New England perspective

Author

Gan, D. ; Chen, Q.

Author_Institution

ISO New England Inc., Holyoke, MA, USA

Volume

1

fYear

2001

fDate

28 Jan-1 Feb 2001

Firstpage

169

Abstract

The existing New England market is an interim market which follows a uniform pricing system. The next-stage New England market, expected to function by the end of 2001, follows locational marginal pricing (LMP) supported by a multi-settlement system (MSS). This note first briefly reviews the structure and operation experience of the interim market. It then describes the main design features of the proposed LMP/MSS, including the rules for bidding, scheduling, dispatching, pricing, reserves allocation and financial congestion rights. The note also describes some alternative market design features and some issues in the design of the New England market

Keywords

costing; electricity supply industry; power system economics; tariffs; New England electricity market; USA; bidding; dispatching; financial congestion rights; locational marginal pricing; market design features; multi-settlement system; operation experience; pricing; reserves allocation; scheduling; Contracts; Costs; Dispatching; Electricity supply industry; Gallium nitride; ISO standards; Power generation; Power systems; Pricing; Signal generators;

fLanguage

English

Publisher

ieee

Conference_Titel

Power Engineering Society Winter Meeting, 2001. IEEE

Conference_Location

Columbus, OH

Print_ISBN

0-7803-6672-7

Type

conf

DOI

10.1109/PESW.2001.917028

Filename

917028