DocumentCode
1405584
Title
Practices on real-time market operation evaluation
Author
Chen, Huanting ; Bresler, Frederick S.
Author_Institution
PJM Interconnection, Norristown, PA, USA
Volume
4
Issue
2
fYear
2010
fDate
2/1/2010 12:00:00 AM
Firstpage
324
Lastpage
332
Abstract
Based on multi-settlement market design, this paper introduces PJM´s practices on real-time (RT) market operation evaluation, using uplift and a newly developed approach, perfect dispatch, as indicators to measure RT market operation efficiency. The evaluation views the balance between operation risk and economic efficiency in the integrated system and market operation. Some operational improvement and challenges identified through the evaluation are discussed along with potential solutions.
Keywords
power markets; power system management; economic efficiency; integrated system and market operation; operation risk; real-time market operation evaluation;
fLanguage
English
Journal_Title
Generation, Transmission & Distribution, IET
Publisher
iet
ISSN
1751-8687
Type
jour
DOI
10.1049/iet-gtd.2009.0188
Filename
5407473
Link To Document