Title :
A bid solicitation and selection method for developing a competitive spot priced electric market
Author :
Ancona, Jerry J.
Author_Institution :
Niagara Mohawk Power Corp., Syracuse, NY, USA
fDate :
5/1/1997 12:00:00 AM
Abstract :
The electric utility industry is in the beginning throes of a transformation from a cost-based regulated structure to a more market-based less regulated system. Traditional unit commitment and economic dispatch methodologies can continue to provide reliable least-cost solutions, providing they are modified to accommodate a larger sphere of market participants. This paper offers a method for an entity such as an independent system operator (ISO) to solicit and evaluate bids for developing a spot priced electric market by replicating existing utility practices that are effective and efficient, while creating an open and equitable competitive marketplace for electricity
Keywords :
contracts; economics; electricity supply industry; tariffs; bid selection method; bid solicitation; competitive marketplace; competitive spot priced electric market; economic dispatch; electric utility industry; independent system operator; least-cost solutions; market participants; unit commitment; Costs; Electricity supply industry deregulation; ISO; Maintenance; Power generation economics; Power industry; Power system economics; Power system reliability; Security; USA Councils;
Journal_Title :
Power Systems, IEEE Transactions on
