A bid solicitation and selection method for developing a competitive spot priced electric market

Journal Article · Thu May 01 00:00:00 EDT 1997 · IEEE Transactions on Power Systems

DOI:https://doi.org/10.1109/59.589669· OSTI ID:492143

Ancona, J J ^[1]

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1. Niagara Mohawk Power Corp., Syracuse, NY (United States)

The electric utility industry is in the beginning throes of a transformation from a cost-based regulated structure to a more market based less regulated system. Traditional unit commitment and economic dispatch methodologies can continue to provide reliable least-cost solutions, providing they are modified to accommodate a larger sphere of market participants. This paper offers a method for an entity such as an Independent System Operator (ISO) to solicit and evaluate bids for developing a spot priced electric market by replicating existing utility practices that are effective and efficient, while creating an open and equitable competitive marketplace for electricity.

• OSTI ID: 492143
• Journal Information: IEEE Transactions on Power Systems, Vol. 12, Issue 2; Other Information: DN: Presented at the 1996 IEE/PES summer meeting, July 28--August 1, 1996, Denver, CO (US); PBD: May 1997
• Country of Publication: United States
• Language: English

Related Subjects

24 POWER TRANSMISSION AND DISTRIBUTION
SPOT MARKET
ELECTRIC POWER
COMPETITION
MARGINAL-COST PRICING
MARKETING