Real Time Energy Market

Relevante items: Security Constrained Unit Commitment   Security Constrained Economic Dispatch   Locational Marginal Price   Energy Market

Real-time Energy Market (p19, Revision 133)

The Real-time Energy Market uses the Real-time Security Constrained Economic Dispatch (RT SCED) program, known as the dispatch run, to determine the least cost solution to balance supply and demand. The dispatch run considers resource offers, forecasted system conditions, and other inputs in its calculations. For more information regarding the RT SCED program, please refer to Section 2.5 of this Manual. Generators and Demand Resources may alter their bids for use in the Real-time Energy Market as defined in Section 9.1 of this Manual during the following periods:

• During the Generation Rebidding Period which is defined from the time PJM posts the results of the Day-ahead Energy Market until 14:15.
• Starting at 18:30 (typically after the Reliability Assessment and Commitment (RAC) Run is completed) and up to sixty-five (65) minutes prior to the start of the operating hour.

Real-time LMPs and Regulation and Reserve Clearing Prices are calculated every five (5) minutes by the Locational Price Calculator (LPC) program, in a process referred to as the pricing run, and are based on forecasted system conditions and the latest approved RT SCED program solution. For more information regarding LPC, Real-time LMPs and Regulation and Reserve Clearing Prices, refer to Section 2.7 of this Manual. The balancing settlement is calculated for each Real-time Settlement Interval (five (5) minute interval) based on actual five (5) minute Revenue Data for Settlement MW quantity deviations from Day-ahead scheduled quantities resulting from the dispatch run and on the applicable Real-time prices resulting from the pricing run.