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Title: The Future of Centrally-Organized Wholesale Electricity Markets

Abstract

The electricity grid in the United States is organized around a network of large, centralized power plants and high voltage transmission lines that transport electricity, sometimes over large distances, before it is delivered to the customer through a local distribution grid. This network of centralized generation and high voltage transmission lines is called the “bulk power system.” Costs relating to bulk power generation typically account for more than half of a customer’s electric bill.1 For this reason, the structure and functioning of wholesale electricity markets have major impacts on costs and economic value for consumers, as well as energy security and national security. Diverse arrangements for bulk power wholesale markets have evolved over the last several decades. The Southeast and Western United States outside of California have a “bilateral-based” bulk power system where market participants enter into long-term bilateral agreements — using competitive procurements through power marketers, direct arrangements among utilities or with other generation owners, and auctions and exchanges.

Authors:
 [1];  [1];  [1];  [1];  [1]
  1. Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)
Publication Date:
Research Org.:
Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)
Sponsoring Org.:
USDOE
OSTI Identifier:
1364601
Report Number(s):
LBNL-1007226
ir:1007226
Resource Type:
Technical Report
Country of Publication:
United States
Language:
English
Subject:
29 ENERGY PLANNING, POLICY, AND ECONOMY

Citation Formats

Glazer, Craig, Morrison, Jay, Breakman, Paul, Clements, Allison, and Schwartz, Lisa. The Future of Centrally-Organized Wholesale Electricity Markets. United States: N. p., 2017. Web. doi:10.2172/1364601.
Glazer, Craig, Morrison, Jay, Breakman, Paul, Clements, Allison, & Schwartz, Lisa. The Future of Centrally-Organized Wholesale Electricity Markets. United States. doi:10.2172/1364601.
Glazer, Craig, Morrison, Jay, Breakman, Paul, Clements, Allison, and Schwartz, Lisa. Wed . "The Future of Centrally-Organized Wholesale Electricity Markets". United States. doi:10.2172/1364601. https://www.osti.gov/servlets/purl/1364601.
@article{osti_1364601,
title = {The Future of Centrally-Organized Wholesale Electricity Markets},
author = {Glazer, Craig and Morrison, Jay and Breakman, Paul and Clements, Allison and Schwartz, Lisa},
abstractNote = {The electricity grid in the United States is organized around a network of large, centralized power plants and high voltage transmission lines that transport electricity, sometimes over large distances, before it is delivered to the customer through a local distribution grid. This network of centralized generation and high voltage transmission lines is called the “bulk power system.” Costs relating to bulk power generation typically account for more than half of a customer’s electric bill.1 For this reason, the structure and functioning of wholesale electricity markets have major impacts on costs and economic value for consumers, as well as energy security and national security. Diverse arrangements for bulk power wholesale markets have evolved over the last several decades. The Southeast and Western United States outside of California have a “bilateral-based” bulk power system where market participants enter into long-term bilateral agreements — using competitive procurements through power marketers, direct arrangements among utilities or with other generation owners, and auctions and exchanges.},
doi = {10.2172/1364601},
journal = {},
number = ,
volume = ,
place = {United States},
year = {Wed Jun 21 00:00:00 EDT 2017},
month = {Wed Jun 21 00:00:00 EDT 2017}
}

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