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Design of New England’s Wholesale Electricity Market - page 28 / 42

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28

Ten-Minute Spinning Reserve

Full requirements market

All TMSR is traded through ISO market

Hourly bids ($/MW) submitted day-ahead

TMSR selected to minimize total costs

Ex post settlement: payment = bid + 2 max{0, energy spot price  energy bid} plus energy spot price for energy delivered

Only hydro can bid, others bid 0

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