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Design of New England’s Wholesale Electricity Market - page 10 / 42

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10

Alternative Settlement Approaches

Single-settlement system

day-ahead bids are used for scheduling

ex post settlement at real-time spot price

Multi-settlement system

day-ahead bids financially binding at day-ahead clearing price

hour-ahead deviations priced at hour-ahead clearing price

real-time deviations priced at spot price

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