Experiences supplying engines for LMP calculations

Abstract

Summary form only given. The PJM electricity market includes a two-settlement system with commitment, dispatch, and location marginal prices (LMPs) computed in the day ahead time frame as the first settlement. The second settlement occurs ex-post based on the actual commitment, dispatch, and LMPs. This presentation describes the engine that computes the LMPs. The main modules of the LMP calculator are: state estimator; locational price algorithm preprocessor; locational pricing algorithm; unit dispatch system