Unified implementation framework for calculation and allocation of expected energy

The past several years have witnessed the design reform of the electricity markets administered by the California Independent System Operator (CAISO) reflected by a series of design changes. As a result of the market design reform, CAISO employs the two-settlement system for determining the payments to or by individual market participants, based on the market clearing results of the day-ahead integrated forward market (IFM) and real-time market (RTM) and after-the-fact manual market result corrections and dedicated algorithmic calculations and recalculations. These post-market IFM/RTM market result corrections and settlement required algorithmic calculations are conducted by various functions in the CAISO Market Quality System (MQS). One of the core functions is responsible for the calculation and allocation of expected energy, which is the most complicated and time-consuming task in the post-market computation process. This paper intends to reveal the unique engineering and computational challenges involved in the calculation and allocation of expected energy, and present a unified, implementable engineering solution framework for optimal execution time and result accuracy performances to meet the CAISO commercial operation timelines and performance requirements.