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A bid solicitation and selection method for developing a competitive spot priced electric market

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1 Author(s)
J. J. Ancona ; Niagara Mohawk Power Corp., Syracuse, NY, USA

The electric utility industry is in the beginning throes of a transformation from a cost-based regulated structure to a more market-based less regulated system. Traditional unit commitment and economic dispatch methodologies can continue to provide reliable least-cost solutions, providing they are modified to accommodate a larger sphere of market participants. This paper offers a method for an entity such as an independent system operator (ISO) to solicit and evaluate bids for developing a spot priced electric market by replicating existing utility practices that are effective and efficient, while creating an open and equitable competitive marketplace for electricity

Published in:

IEEE Transactions on Power Systems  (Volume:12 ,  Issue: 2 )