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The ongoing de-regulation of the U.S. electric power industry is to build open-access, non-discriminative and competitive electricity markets. In 2002 the federal energy regulatory commission (FERC) proposed Standard Market Design (SMD), in which the key is the locational marginal pricing (LMP) methodology to determine the energy price and to manage the network congestion. LMP has been adopted by...
Growth in electricity demand with lack of investment in new transmission facilities has led to the formation of load pockets with long congestion hours over transmission bottlenecks. When assessing resource adequacy with reference to the load pockets, one needs to include both generation resources and power delivery systems to capture their impacts on system reliability and market economics at the...
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