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American Power Market Monitoring Development History
American Power Market Monitoring System is constantly perfect with the development of the market. Among them, market monitoring is the most important part of it.
(Source: WeChat Public No. China Power Enterprise Governance ID: zgdlqSugar babyygl Author: Liu Xun Xu Zhenchao)
In 1999, the Federal Power Supervision Committee (FERC) issued 2,000 orders to encourage the establishment of a regional transport organization (RTO), and requested that the RTO must make a French order to conduct a custom monitoring of all dynamic markets it operates or manages, in order to “an opportunity to determine market design shortcomings, market power and improve effectiveness.”
Specifically, RTO is asked: First, to monitor the market’s transmission services and the behavior of the transfer owners and to propose corresponding measures; second, to monitor the power market that assists services and RTO operations; third, to evaluate how market behavior affects RTO and how RTO operations affect the market; fourth, to provide FERC with reports on supplying economic market strength and market design shortcomings, affecting the supervision department, including specific suggestions.
In 2002, FERC made standard market design, SMD), which requires each RTO’s market monitoring unit (MMU) to apply a set of focus issues and analysis techniques to evaluate market structure, participant behavior, market design and market strength solutions, and at most, one annual report must be submitted, which must include: a general description of market operations, supply and demand relationships, and market prices; Analyzing the scene structure and participant behavior; evaluating the usefulness of the (market force) solution adopted; overall evaluation of market effectiveness by the application simulation; evaluating the advance wall of power generation, demand side and power resources; and any suggestions for market design or market atmosphere solution to improve market performance.
In 2005, FERC issued a policy statement, which believed that MMU played a major role in helping FERC maintain ISO/RTO market competition. Competitive markets are victims by ensuring fair prices and responding to supply and demand conditions. MMU monitors the wholesale market to identify invalid market rules and regulations, identify potential anti-competition behaviors of market entities, and provide policy decisions to the relevant comprehensive market analysis.
April 5, 2007<a href="https://philipOn the day, FERC held a technical meeting to return to the market supervision system. At the meeting, PJM's Market Supervision Department (MMU) filed a complaint with FERC and said Sugar daddy claims that the PJM governance layer is responsible for its market monitoring. Its appeals are supported by industrial companies, state supervisory agencies and consumer advocacy organizations, and they ask FERC to ensure the independence of the PJM market monitoring.
On December 19, 2007, the PJM representative himself and the interest parties submitted an interest dispute agreement. The interest dispute agreement includes an amendment to the PJM market monitoring plan and other articles of the articles of association. Revised The market monitoring plan states that any person in a dream, Ye is forced to witness the entire book, mainly about the heroine or the main body’s right to preview, filter, change, delete or otherwise edit or postpone MMU’s actions, investigations, discussions and suggestions.
The revised market monitoring plan further defines the MMU’s responsibilities and responsibilities. MMU should monitor the competition in the PJM market in a visual mannerSugar daddylevel, investigate the phenomenon of violating market rules, recommend market rules revision suggestions, and write reports. The revised market monitoring plan emphasizes the MMU should investigate actual or potential market efforts to exercise or violate regulations, and monitor other matters necessary to write reports.
After this wave, independent third-party monitoring (IMM) became mainstream.
Today, american Electric Sugar baby has two independent market monitoring agencies, among which Monitoring Analytics monitors the PJM market Sugar daddy scene, Potomac Economics monitors the markets of MISO, NYISO, ISO-NE and ERCOT, which uses a dual monitoring system that combines internally. Based on the foundation of the internal monitoring department (DMM), CAISO has a Market Surveillance composed of three economic scientists. Committee (Market Supervision Committee). Only one that uses internal monitoring is SPP (Northeast Power Bank).
Power Market Monitoring Theory Model
American, Australia, New Zealand, Europe and other mature power market monitoring and evaluation power marketsThe theoretical basis used is the SCP model in the industrial organization theory.
Industrial Organization (Industrial Organization) discusses the corporate behavior and market structure of the market under incomplete competition conditions, and is a major branch of micro-economics. SCP (structure-conduct-performance,
Structure-behavior-performance) is a theory of industry organization analysis founded by Harvard economic scholars in the 1930s. With practical research and discussion as a skill, it constructs a systematic market structure-market behavior-market performance analysis framework. This mold provides a industry analysis framework that can not only deeply and deeply integrate the system logic system.
This theory has become an important thing in the analysis of corporate competition behavior and market effectiveness in traditional industry organizations, and is widely used in international power market evaluation.
SCP model analyzes the impact of internal impact from three perspectives: specific industry structure, corporate behavior and operational performance.
Internal shock: Important refers to changes in the internal economic environment, politics, technology, civilization changes, consumption habits and other reasons of the enterprise.
Industry structure: Important refers to the impact of changes in various internal environments on the industry capabilities of the enterprise location, including changes in industry competition, changes in product demand, changes in market segments, and changes in marketing models.
Enterprise behavior: Important refers to the internal impact of the enterprise and the changes in the industry structure, and has appropriate measures that can be adopted, including a series of changes such as the integration of relevant business units in the enterprise, business expansion and contraction, transformation of operation methods, and governance changes.
Business performance: Important refers to the changing trends of the enterprise in terms of profitability, product capital, market share, etc. in the case of changes in the internal environment (see Table 1).
In the context of traditional economic theory, the monitoring agency of the american power market combines the characteristics of the power market and develops a set of mature indicators to conduct statistical analysis of the data through multiple dimensions in order to provide a more comprehensive understanding of the competitive state of the market. Taking PJM as an example, its important content is shown in Table 2.
Power market operation monitoring content and methods
——Take PJM annual report as an example
PJM market is responsible for analyzing and evaluating various markets, and for the various markets that PJM is responsible for operating every year (including energy markets, capacity markets, assisted service markets, etc.) The market power of PJM Power Market Annual Report is reviewed, and the review report is published. Through discussions on specific market conditions, it provides a plan to improve market competitiveness. The structure and important content of its annual report are as follows:
Overview
The overview department of PJM Power Market Annual Report is very detailed, and it basically covers the report’s major conclusions. and main content. This is because the content of the annual report is very detailed (the entire report exceeds 600 pages), the report overview can meet the needs of report readers without delving into the specific details to better understand the PJM power market’s market’s market’s market for the year.
The first annual operation of the PJM power market is from the first place to go. href=”https://philippines-sugar.net/”>Sugar daddy‘s operation situation is reviewed and the overall situation of all aspects of the entire report is summarized. The second part is an overview of the important statistical results of the annual report, which is used to compare this year with the same period last year for indicators such as peak load, machine capacity, power supply, and even real-time date price, blocked capital, upward charges, and total account orders. The third part is the outlook for the PJM power market. Introduction, including machine capacity, market members, market types, governance areas, etc. Part 4 is a summary, which will first summarize the overall situation of TC: