Notice of RetractionAuctions mechanism of finacial transmission rights In PJM maket

Notice of Retraction

After careful and considered review of the content of this paper by a duly constituted expert committee, this paper has been found to be in violation of IEEE´s Publication Principles.

We hereby retract the content of this paper. Reasonable effort should be made to remove all past references to this paper.

The presenting author of this paper has the option to appeal this decision by contacting TPII@ieee.org.

Transmission Congestion is a critical phenomenon of system operation under the electricity market. As a risk mitigation instrument, without changing the realtime dispatch and operation of the system, Financial Transmission Right (FTR), already been applied in electricity market of certain countries and regions, provides a solution to the transmission congestion problem in a novel term. At the same time, FTR also provide the risk management instruments for the participant of the market. This paper describes the profile of the American PJM FTR in detail, state the patterns of the American PTM FTR market based on the basic theories of FTR, and analyze the annual and monthly auction process of Auction Revenue Rights (ARRs), the auction process of FTRs and settlement mechanism of the FTR in the FTR market. These analysis provide important references for the future development of the Chinese FTR market.