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Wholesale Electricity Market Modeling and Pricing

Presented by: Anthony Giacomoni, Senior Market Strategist, Emerging Markets, PJM Interconnection

This series of recorded tutorials are now available for purchase on the IEEE Smart Grid Resource Center. Scroll down for detailed session agendas.

Session prices vary based on IEEE membership. Each 80-minute session will be available for streaming for 1 year from purchase date. In addition, CEUs/PDHs will be available for purchase. To see all recorded tutorials and corresponding slides, please visit the IEEE Smart Grid Resource Center’s Education tab.

Tutorial Overview:

For nearly two decades, electricity markets have existed to facilitate the buying and selling of electricity at the wholesale level and to ensure the constant availability of competitively priced electricity. Electricity markets, however, are very different from traditional markets. They are designed to help ensure system reliability and prices are determined by an algorithm. This tutorial will discuss the fundamental aspects of how electricity markets in the U.S. are currently modeled and operated, and how prices are determined. Several examples will be used to help present these concepts. In addition, some frameworks to integrate carbon pricing into wholesale electricity markets will be discussed.

This online tutorial will cover the following topics in each session: 

Wholesale Electricity Market Modeling and Pricing – Session 1
  • Electrical Network Models
  • Electricity Market Current Practices
  • Sensitivities
Wholesale Electricity Market Modeling and Pricing - Session 2
  • Review of Session 1
  • Electricity Market Current Practices
  • Locational Marginal Pricing (LMP) and Congestion
  • LMP Calculation and Components
Wholesale Electricity Market Modeling and Pricing - Session 3
  • Review of Session 2
  • Marginal Loss Modeling>
  • Extended Locational Marginal Pricing (ELMP)
  • Examples
Wholesale Electricity Market Modeling and Pricing - Session 4
  • Review of Session 3
  • Examples (cont.)
  • Carbon Pricing

 

 

 

About the Presenter

Anthony Giacomoni, IEEE Senior Member, is a Senior Market Strategist in the Emerging Markets department at PJM Interconnection in Audubon, PA. In his current role, he conducts research and analysis relating to electricity markets and emerging issues in the energy industry. Previously, he was a Senior Engineer in the Resource Adequacy Department at ISO New England. From 2012-2016 he was a Market Analyst in the Market Monitoring Department at ISO New England where he helped ensure the competitiveness of the wholesale electricity markets for the New England region. From 2011-2012 he was a Post-Doctoral Associate in the Electrical and Computer Engineering Department at the University of Minnesota. He received the B.S. degree in electric power engineering and economics from Rensselaer Polytechnic Institute, Troy, NY in 2007, and the M.S. and Ph.D. degrees in electrical engineering with a concentration in electric power systems from the University of Minnesota, Minneapolis, MN in 2009 and 2011 respectively.

Attendees will be eligible to receive Continuing Education Credit (CEU).