X hits on this document

895 views

0 shares

0 downloads

0 comments

2 / 179

2009 State of the Market Report

Table of Contents

  • I.

    Executive Summary........................................................................................................... i

  • II.

    Prices and Revenues ......................................................................................................... 1

    • A.

      Prices ............................................................................................................................ 1

    • B.

      Net Revenue Analysis .................................................................................................. 7

  • III.

    Load and Resources........................................................................................................ 11

    • A.

      Load Patterns .............................................................................................................. 11

    • B.

      Generation Capacity ................................................................................................... 14

    • C.

      Generator Availability and Outages ........................................................................... 17

    • D.

      Resource Margins and Generation Adequacy ............................................................ 20

    • E.

      Voluntary Capacity Auction....................................................................................... 23

  • IV.

    Day-Ahead and Real-Time Market Performance........................................................ 25

    • A.

      Day-Ahead Market Performance................................................................................ 25

    • B.

      Real-Time Market Performance ................................................................................. 41

    • C.

      Revenue Sufficiency Guarantee Payments................................................................. 59

    • D.

      RSG Cost Study.......................................................................................................... 63

    • E.

      Price Volatility Make-Whole Payments..................................................................... 65

    • F.

      Dispatch of Peaking Resources .................................................................................. 66

    • G.

      Wind Generation......................................................................................................... 68

    • H.

      Market Conclusions and Recommendations .............................................................. 72

  • V.

    Transmission Congestion and Financial Transmission Rights................................... 74

    • A.

      Real-Time Congestion Costs...................................................................................... 75

    • B.

      Day-Ahead Congestion and FTR Obligations............................................................ 77

    • C.

      Value of Congestion in the Real-Time Market .......................................................... 81

    • D.

      TLR Events................................................................................................................. 84

    • E.

      Congestion Manageability.......................................................................................... 86

    • F.

      FTR Auction Prices and Congestion .......................................................................... 91

    • G.

      Market-to-Market Coordination with PJM................................................................. 98

  • VI.

    Competitive Assessment ............................................................................................... 106

    • A.

      Market Structure....................................................................................................... 106

    • B.

      Participant Conduct .................................................................................................. 112

    • C.

      Market Power Mitigation.......................................................................................... 124

(Continued)

Document info
Document views895
Page views895
Page last viewedMon Jan 23 06:42:42 UTC 2017
Pages179
Paragraphs5369
Words52656

Comments