On the Various Design Options for Ancillary Services Markets
نویسندگان
چکیده
This paper discusses various market design options for procuring, pricing and settling Ancillary Services via competitive auctions by an Independent System Operator (ISO). The paper also discusses problems and potential solutions associated with these market design options based on actual experience of operating ISOs. These problems include price volatility and spikes and price reversals for the various components of the Ancillary Services that can create perverse incentives in the marketplace.
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