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Design of New England’s Wholesale Electricity Market - page 37 / 42

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37

California

California ISO

Real time market for energy

Day-ahead and hour-ahead markets for ancillary services

Supply-side bidding only

Multi-settlement system: day-ahead and hour-ahead contracts are financially binding

Real time market for zonal transmission congestion charges

California PX

Day-ahead energy market

Supply-side and demand-side bidding

Forms a multi-settlement system along with ISO real time market

Plans to offer an hour-ahead energy market

Automated Power Exchange

Market for energy futures

Supply-side and demand-side bidding

Bids placed for specific hours in the week ahead

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