Market based regulation for the PJM electricity market

Author

Jayantilal, Avnaesh ; Cheung, Kwok W. ; Shamsollahi, Payman ; Bresler, Frederick S.

Author_Institution

ALSTOM ESCA Corp., Bellevue, WA, USA

fYear

2001

fDate

2001

Firstpage

155

Lastpage

160

Abstract

This paper describes the functional requirements, design and implementation of the PJM market based regulation (MBR) application. MBR provides the day-ahead and real-time functions to meet the regulation requirements for the next market-day through a process of competitive bidding and procurement. Regulation bids submitted by market participants are scheduled and dispatched using a security constrained economic dispatch methodology that includes the various market rules. The MBR application simultaneously provides the PJM ISO with information for real-time regulation evaluation and dispatch. The paper also describes the PJM regulation market results since inception

Keywords

electricity supply industry; power generation dispatch; power generation economics; power system security; PJM ISO; PJM electricity market; PJM market based regulation; PJM regulation market results; REGO mathematical model; ancillary services; competitive bidding; day-ahead functions; deregulation; electricity markets; market rules; next market-day; procurement; real-time functions; regulation bids; regulation requirements; scheduling; security constrained economic dispatch; Contracts; Control systems; Costs; Electricity supply industry; Electricity supply industry deregulation; Energy consumption; Power generation economics; Procurement; Scheduling; Senior members;

fLanguage

English

Publisher

ieee

Conference_Titel

Power Industry Computer Applications, 2001. PICA 2001. Innovative Computing for Power - Electric Energy Meets the Market. 22nd IEEE Power Engineering Society International Conference on

Conference_Location

Sydney, NSW

Print_ISBN

0-7803-6681-6

Type

conf

DOI

10.1109/PICA.2001.932339

Filename

932339