December 2004

30
R. Rajaraman. “Optimal Bidding Strategies in Electricity Markets”
Market Clearing Rules: Round 2
•In round 2, if intra-zonal congestion limit is violated, then generators are re-dispatched
ØGenerators that are “constrained up” relative to round 1 dispatch are paid their bid price
ØGenerators that are “constrained down” relative to round 1 dispatch pay round 1 zonal price