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Real-time energy market design and operations challenges at the ISO New England

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2 Author(s)
E. Litvinov ; ISO New England Inc., MA, USA ; T. Zheng

On March 1, 2003, ISO New England launched its LMP based energy market for both real-time and day-ahead. Under this SMD implementation, the day-ahead market is a financial forward market, which does not enforce obligation on the physical generating resources to provide energy, while the real-time market involves the dispatch of physical resources to serve the real-time load in a secure and reliable manner. In this paper an over view of the real-time energy market in ISO New England is presented. Also, some operations and design challenges of the energy market was discussed.

Published in:

IEEE Power Engineering Society General Meeting, 2005

Date of Conference:

12-16 June 2005