Title :
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
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;
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
DOI :
10.1109/PICA.2001.932339
