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An advanced framework for real-time market operations and monitoring

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2 Author(s)
Sobajic, D.J. ; Dept. of Electr. Eng., Stanford Univ., CA, USA ; Douglas, J.H.

This paper reviews the relationship between specific power system operations and market functions, introduces a definition of market conditions that correspond to grid operating states, and proposes an integrated approach for real-time power market operations and monitoring, which will help ensure reliable operations at the lowest cost in decentralized markets and provide effective incentives for market participants.

Published in:

Power and Energy Magazine, IEEE  (Volume:2 ,  Issue: 2 )

Date of Publication:

Mar-Apr 2004

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