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Design of New England’s Wholesale Electricity Market - page 35 / 42

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35

PJM

Single settlement system

supply-side and demand-side bidding

tentative scheduling done day ahead

real time Locational Marginal Prices (LMPs) determined for each node every 5 minutes.

Plans to move to a multi-settlement system with day-ahead and hour-ahead markets in addition to the real time spot market

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