A Dynamic Analysis of a Demand Curve-Based Capacity Market Proposal: The PJM Reliability Pricing Model

@article{Hobbs2007ADA,
  title={A Dynamic Analysis of a Demand Curve-Based Capacity Market Proposal: The PJM Reliability Pricing Model},
  author={B. F. Hobbs and Ming-Che Hu and J. G. Inon and S. Stoft and M. P. Bhavaraju},
  journal={IEEE Transactions on Power Systems},
  year={2007},
  volume={22},
  pages={3-14}
}
Because of high generation adequacy standards in the power industry, some peaking capacity operates for a limited time during the year and may not receive sufficient energy revenues to meet its fixed costs. This is particularly true when energy prices are capped in order to mitigate market power. The northeastern U.S. independent system operators (ISOs) have responded to this issue by establishing capacity obligations for loads and markets for installed capacity, thus providing a capacity… CONTINUE READING
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