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Summary form only given. By early 2009, roughly 60 % of the US capacity will operate in RTO markets. This panel session focuses on ancillary-service markets. The panel addresses the following issues: how do ancillary-service markets operate?; what types of ancillary services do RTOs offer?; is there a market for VARS?; how do RTOs select resources for regulation and contingency reserves?; which RTOs currently use co-optimization techniques to co-optimize energy and ancillary-service products?; does co-optimization produce a schedule that minimizes the total production costs for the RTO?; does co-optimization produce a schedule that maximizes revenues for market participants?; does co-optimization produce expected prices for ancillary services?; any problems with price reversal?; how are ancillary services settled?; and who pays for the cost of providing ancillary services?