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The WOLF in pricing

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WOLF pricing of unscheduled flows of electricity tends to keep the market honest. WOLF prices both deliveries and receipts from the grid using the same set of formulas. An industrial facility that has some self-generation would be indifferent between net billing under WOLF or buying all of its needs under WOLF and selling all of its output under WOLF. At least when the entire facility is subject WOLF pricing. WOLF pricing also permits some parts of the network to be owned by competing economic interests. For the grids in North America, WOLF pricing would compensate owners for the loop flow they experience when they provide a parallel path to the contract path for major power flows, and also for other loop flows. This is the issue of the interaction of PJM, MISO, Ontario, New York, TVA, and Southern Company.

Published in:

Power and Energy Magazine, IEEE  (Volume:7 ,  Issue: 1 )