Title :
Functional requirements for PJM Shortage Pricing system
Author :
Shamsollahi, Payman ; Keech, Adam
Author_Institution :
ALSTOM Grid Inc., Redmond, WA, USA
Abstract :
This paper discusses high-level functional requirements of the Shortage Pricing (SP) system in PJM´s realtime market in the USA. It gives details of the market characteristics as well as variety of engines to achieve an efficient market. It goes into details of why several clearing engines are staggered in time to create more efficient market signals and participants´ trust.
Keywords :
power markets; power system economics; pricing; PJM shortage pricing system; SP system; clearing engine; high-level functional requirement; market signal; power markets; Economics; Engines; Joints; Optimization; Pricing; Real time systems; Security; Co-Optimization of Energy & AS; Reserve Demand Curve; Security Constrained Economic Dispatch;
Conference_Titel :
Environment and Electrical Engineering (EEEIC), 2011 10th International Conference on
Conference_Location :
Rome
Print_ISBN :
978-1-4244-8779-0
DOI :
10.1109/EEEIC.2011.5874857
