PJM: a full service ISO market evolution (Panel on evolution of electricity market structures)

Author

Ott, Andy

Volume

2

fYear

1999

fDate

1999

Firstpage

746

Abstract

The purpose of the paper is to discuss the evolution of the PJM energy market (USA) from a cost-based power pool to the current bid-based PJM market that utilizes locational marginal pricing (nodal pricing) to manage transmission congestion. The paper presents a brief overview of PJM and the PJM market. PJM is a fully functional ISO whose functions include: security coordinator; MAAC regional reliability area of NERC; transmission service provider; power exchange; and regional transmission planning. PJM market statistics for the past year are presented. The paper continues with a discussion of the PJM market evolution to its present form, focusing on the basic characteristics of each stage of development. Future PJM market enhancements are also discussed

Keywords

costing; electricity supply industry; power system interconnection; power transmission control; power transmission economics; tariffs; MAAC regional reliability area; PJM energy market; USA; bid-based PJM market; cost-based power pool; full service ISO market evolution; locational marginal pricing; market statistics; nodal pricing; power exchange; regional transmission planning; security coordinator; transmission congestion management; transmission service provider; Customer service; Electricity supply industry; Energy management; ISO; Maintenance; Power markets; Power system reliability; Power system security; Pricing; Statistics;

fLanguage

English

Publisher

ieee

Conference_Titel

Power Engineering Society Summer Meeting, 1999. IEEE

Conference_Location

Edmonton, Alta.

Print_ISBN

0-7803-5569-5

Type

conf

DOI

10.1109/PESS.1999.787410

Filename

787410