Developing Next Generation Electricity Market Clearing Optimization Software

Electricity markets have brought significant benefit to the society. The core of the market clearing system is Security Constrained Unit Commitment (SCUC) and Security Constrained Economic Dispatch (SCED). This paper first shares the experience from Midcontinent Independent System Operator (MISO) and GE Grid Solution to improve MISO market clearing software performance to meet the needs of market development and business requirement. It then introduces the research and development on next generation market clearing software, including the ARPA-E project to develop high performance computer based optimization engines, to position RTOs/ISOs for future industry evolution.