Developments in Electricity Market Design


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Join Young Professionals in Energy for a discussion on electricity market design, including market structure reform and reserve pricing, hosted by and featuring experts from PJM.

Over the last approximately 20 years, most Independent System Operators (ISOs) and Regional Transmission Organizations (RTOs) in the United States have used a method called locational marginal pricing (LMP) to determine the price of electricity bought and sold in their energy markets. While this method has worked well during this time, recent changes in the industry have caused ISOs and RTOs to reexamine price formation, including calls by FERC to reform pricing for fast-start resources. In addition, PJM has been working on several changes to its reserve market pricing over the last year to ensure that energy and reserve prices accurately reflect system conditions and appropriately value scarcity. This presentation will discuss current price formation changes that PJM has been working on in both its energy and reserve markets.

Location

PJM Interconnection
1200 G Street Northwest
Washington DC 20005

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