The role of the ISO in U.S. electricity markets: A review of restructuring in California and PJM

Journal Article · Thu Apr 01 04:00:00 EST 1999 · Electricity Journal

DOI:https://doi.org/10.1016/S1040-6190(99)00016-0· OSTI ID:352499

Cameron, L ^[1]; Cramton, P ^[2]

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1. Economics Resource Group, Boston, MA (United States)
2. Univ. of Maryland, College Park, MD (United States)

Despite their design differences, both the California and the Pennsylvania-New Jersey-Maryland (PJM) markets provide explicit roles for competition in the scheduling functions while allowing the independent system operator (ISO) to manage the spot market. Experience has shown that both can work. This article discusses the California and PJM approaches in an attempt to shed light on the controversy over the ISO`s role in pre-dispatch phases of the market. Section 1 describes the California market and Section 2 briefly review PJM. Section 3 outlines the costs and benefits associated with limiting the ISO`s role in the scheduling phases of the market. Section 4 summarizes recent experience in California and PJM and offers some conclusions.

• OSTI ID: 352499
• Journal Information: Electricity Journal, Journal Name: Electricity Journal Journal Issue: 3 Vol. 12; ISSN ELEJE4; ISSN 1040-6190
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
COMPETITION
ELECTRIC POWER INDUSTRY
POWER TRANSMISSION
SPOT MARKET