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Electricity is a unique commodity and difficult to price due to its physical characteristics and fixed/non-convex generation costs. These difficulties have contributed to a variety of pricing proposals since wholesale electricity markets began twenty years ago.
FERC staff Robin Broder Hytowitz will provide an overview of electricity pricing focusing on broad concepts that apply to all ISOs/RTOs. The overview will explain the concepts behind Locational Marginal Prices, uplift, and an extension used in some wholesale markets today.
Robin Broder Hytowitz works in the Office of Energy Policy and Innovation at FERC in the area of Operation Research Analysis. Her present focus is on current and proposed pricing models for wholesale electricity. She is also pursuing a PhD in energy systems engineering at the Johns Hopkins University in Baltimore, MD. Her dissertation analyzes improvements to reserve products for European markets considering high wind penetration, and proposes a new pricing method for US ISO markets. Prior to starting her PhD, she was a Fulbright Fellow studying wind power integration in Denmark. Robin received her master’s degree in electrical engineering from Arizona State University and a bachelor’s degree from Barnard College, Columbia University.
Please join the Women’s Council on Energy & the Environment for a discussion on the fundamental economics and basic mathematics behind wholesale electricity market pricing, known as Locational Marginal Prices.
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