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This paper proposes a new framework in calculating the ex post prices for the spot electricity market. The proposed method finds a set of prices that are as consistent as possible with the actual outputs of resources correctly following their dispatch instructions. Two alternative consistency metrics are proposed in the paper. One measures the difference between the actual performance of an individual resource and its bid-based profit-maximizing response to the ex post prices in a perfectly competitive market. Another measures the difference between the ex post price and the price that supports the actual response of an individual resource. Compared to the existing approaches adopted in the real-time electricity markets in the U.S., the proposed method solves the ex post energy and ancillary service prices directly and simultaneously. It does not require heuristics that are hard to justify, and has a much clear definition for the pricing problem than the existing approaches do. Moreover, the proposed approach is flexible in the price control required by the market operators. Numerical examples are presented to further demonstrate the validity of this approach. [ABSTRACT FROM AUTHOR]

As the number of combined-cycle units increases, efficient modeling approaches for these units play important roles for independent system operators (ISOs). Based on various combinations of combustion turbines (CTs) and steam turbines (STs), the combined-cycle unit could work at different configurations (modes) with different efficiencies. In this paper, we propose an edge-based formulation for the combined-cycle units in the unit commitment problem to improve the accuracy and effectiveness of current modeling approaches. Our formulation can 1) clearly describe the transition processes among different configurations so as to satisfy the ISO financial offer submission requirements and (2) capture physical constraints of each turbine, including the exact min-up/down time and time dependent startup cost, in the combined-cycle units so as to increase the operational flexibility while ensuring system feasibility. This model fits well with the current U.S. deregulated electricity market. The final numerical studies show that our approaches perform better than the current configuration-based modeling approach. [ABSTRACT FROM AUTHOR]

Interconnection wide electric transmission system has been envisioned to facilitate the growth of renewable energy, enhance reliability, improve system operating efficiency, and reduce emissions. In this paper, we propose an explicit planning approach for transmission design at the national level. It has been applied to the U.S. system to design transmission overlays for multiple future generation scenarios. Associated simulation results suggest that a national transmission overlay provides economic, environmental, and system performance benefits. [ABSTRACT FROM PUBLISHER]