Virtual regional dispatch

Summary form only given. Virtual regional dispatch (VRD) is a method of optimizing the production of electricity and the use of electric facilities over several, independently operated control areas. VRD´s presumption is that this regional optimization can be achieved, or nearly achieved, by separately optimizing each control area, and by also coordinating the transfer of energy among the control areas participating in VRD so that prices converge at the control area interfaces. This paper suggests a possible process for VRD (virtual regional dispatch). The real-time processes of both New York and New England are described in the sections that follow. Also described is a method to determine the price sensitivity of each control area to changes in energy exchanged; and use of that information to establish and predict energy exchange. Finally, an annotated time-line is provided.