Title :
Beyond the Crystal Ball: Locational Marginal Price Forecasting and Predictive Operations in U.S. Power Markets
Author :
Sahni, Manoj ; Jones, Roy ; Yunzhi Cheng
Author_Institution :
PwrSolutions Inc., Dallas, TX, USA
Abstract :
Signs are emerging that north american power markets are moving toward commonality and maturity in their function, if not their operations. More than ten years after the Federal Energy Regulatory Commission (FERC) announced its Notice of Proposed Rulemaking (NOPR) on standard market design (SMD), major U.S. power markets now seem to have a basis on which to voluntarily provide similar pricing granularity and hedging capabilities to their participants.
Keywords :
load forecasting; power markets; pricing; FERC; Federal Energy Regulatory Commission; NOPR; SMD; U.S. power markets; hedging capabilities; locational marginal price forecasting; notice of proposed rulemaking; predictive operations; pricing granularity; standard market design; Data models; Electricity supply industry; Forecasting; Government policies; Power markets; Power system economics; Predictive models; Pricing; Real time systems;
Journal_Title :
Power and Energy Magazine, IEEE
DOI :
10.1109/MPE.2012.2196338
