Title :
Dispatchable transmission in RTO markets
Author :
O´Neill, Richard P. ; Baldick, Ross ; Helman, Udi ; Rothkopf, Michael H. ; Stewart, William, Jr.
Author_Institution :
Office of Markets, Tariffs & Rates, Fed. Energy Regul. Comm., Washington, DC, USA
Abstract :
We consider transmission owners that bid capacity, under appropriate Regional Transmission Organization (RTO) market rules, at a positive price into forward and spot (dispatch) auctions to derive congestion revenues. This can encompass daily, monthly, or multimonthly auctions, allowing for commitment of transmission to reflect market needs in different time periods, e.g., seasons. We provide two and three node examples and a general formulation of the auction model.
Keywords :
power markets; power transmission economics; RTO market; dispatchable transmission; regional transmission organization market; spot auction; transmission commitment; Australia; Control systems; Electricity supply industry; Forward contracts; ISO; Information management; Investments; Power transmission lines; Pricing; Proposals;
Journal_Title :
Power Systems, IEEE Transactions on
DOI :
10.1109/TPWRS.2004.841168
