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Design of New England’s Wholesale Electricity Market - page 7 / 42

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7

Energy Market

Residual market

Only difference between resources and obligations traded (not self-scheduled bilaterals)

Hourly bids ($/MWh) submitted day-ahead

Basis for day-ahead schedule

Paid real-time spot price (ex post clearing)

Shadow price on energy in 5-minute dispatch LP

Out-of-merit-order dispatch paid its bid

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