Transaction management in deregulated electricity markets

In the past transaction scheduling focused primarily on the operational aspects of "wholesale transactions" of energy between control areas. With the trend of the opening of the electricity markets worldwide more nonutility organizations on the consumer side as well as on the generation side become involved. Transmission operators have to deal with a massively increased number of transmission requests, new requirements of the competitive electricity market, new types of power-related products (e.g. ancillary services), evolving regulatory requirements and technical restrictions of the power system. Starting with a comparison of the different regulatory frameworks for the operation of transmission networks in deregulated competitive markets in Europe and in North America, this paper addresses the requirements and presents a solution for new transaction scheduling applications