Application of locational marginal pricing in the PJM market

1 January 2006

proceedings article
Published by Institute of Electrical and Electronics Engineers (IEEE)

p. 1 pp.
https://doi.org/10.1109/pes.2006.1709585

Abstract

Summary form only given. This paper provides a functional overview of the PJM locational pricing application in the day-ahead and real-time energy markets. The day-ahead locational prices are calculated for each hour based on scheduled conditions for the next operating day and real-time locational prices are calculated every five minutes based on actual system conditions. In addition to providing an overview of the LMP calculation process, the paper discusses the data validation techniques, error condition processing, audit controls and quality assurance methods that are an integral part of the market price calculation process. These price and data validation procedures provide market participants with confidence that the posted LMP prices are correct. The paper also details the PJM / MISO market-to-market congestion management coordination process and its integration into the real-time LMP calculations

Keywords

This publication has 0 references indexed in Scilit: