Title :
PJM implementation of FERC standard market design
Abstract :
This paper deals with standard market design (SMD) for the electric industry. PJM is planning to meet the challenge of this NOPR. PJM is currently operating a market that is in line with many of the items that are required in the NOPR. However there are some differences between what is in the NOPR and how PJM operates today. This panel presentation will address the current operation and what changes may be required to meet the FERC NOPR requirements. This paper overviews the following aspects: current market design, congestion revenue rights, day ahead markets, real time markets, ancillary service markets, transmission service issues.
Keywords :
electricity supply industry; market research; power markets; service industries; FERC NOPR requirements; ancillary service markets; congestion revenue rights; current market design; day ahead markets; electric industry; real time markets; standard market design; transmission service issues; Meeting planning; Monitoring; Power generation economics; Pressing; Pricing; Processor scheduling; Proposals; Real time systems; Spinning; Uncertainty;
Conference_Titel :
Power Engineering Society General Meeting, 2003, IEEE
Print_ISBN :
0-7803-7989-6
DOI :
10.1109/PES.2003.1270969
