Title :
Locational marginal pricing in ERCOT market
Author_Institution :
Electricity Council of Texas, TX
Abstract :
Locational marginal pricing (LMP) system is complex but critical to ensure a power market´s smooth and health operation. This paper addresses both the current and the future LMP system in the ERCOT market. It starts with introducing the operating process of the current zonal LMP, then examines several major challenges and issues associated with the current LMP operations, and in the end gives an introduction to the proposed nodal LMP system which is anticipated to be put in place by January 1st 2009
Keywords :
power markets; pricing; ERCOT market; current zonal LMP; locational marginal pricing; nodal LMP system; power market; Costs; Councils; Economic forecasting; Energy management; Maintenance; Power generation economics; Power system economics; Power system modeling; Power system security; Pricing; ERCOT; Locational Marginal Pricing (LMP); Nodal Market; Zonal market;
Conference_Titel :
Power Engineering Society General Meeting, 2006. IEEE
Conference_Location :
Montreal, Que.
Print_ISBN :
1-4244-0493-2
DOI :
10.1109/PES.2006.1708980
