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Report to Congress: Impacts of the Federal Energy Regulatory Commissions Proposal for Standard Market Design U.S. Department of Energy April 30, 2003

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Book Id: WPLBN0000702005
Format Type: PDF eBook
File Size: 1.06 MB.
Reproduction Date: 2006
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Title: Report to Congress: Impacts of the Federal Energy Regulatory Commissions Proposal for Standard Market Design U.S. Department of Energy April 30, 2003  
Language: English
Subject: Government publications, Energy, Energy and research series
Collections: Department of Energy Collection
Publication Date:
Publisher: Government Printing Office

Excerpt: The SMD case represents a future in which all components of the proposed SMD are implemented successfully. RTOs operate in all regions; each RTO uses locational marginal pricing (LMP);2 each RTO has eliminated internal transmission charges and minimized internal barriers to wholesale electricity commerce; and similar barriers have been reduced between RTOs. The status of retail competition is unchanged from the Non-SMD case, and reserve margin requirements are also unchanged. Accordingly, the SMD case does not attempt to measure the potential capital cost savings that may be associated with greater opportunities for reserve sharing under SMD.

Table of Contents
Table of Contents: U.S. Department of Energy Impacts of FERC?s Proposed Standard Market Design iii -- Executive Summary, vii -- 1. Introduction, 1 -- Congressional Direction, 1 -- FERC?s SMD Proposal: Background, 2 -- Long-Term Trend Toward Competition in Wholesale Electricity Markets, 2 -- Disruptions in the Western Regional Market, 2000-2001, 4 -- Exposure of Irregular Business Practices, 4 -- Underinvestment in the U.S. Transmission Sector, 4 -- Summary of FERC?s SMD Proposal, 5 -- 2. Estimating the Impacts of SMD: An Analytic Framework, 9 -- Types of Impacts Addressed, 9 -- Quantitative and Qualitative Approaches, 9 -- Non-SMD Case, SMD Case, and Sensitivity Cases, 10 -- Background Assumptions Common to All Cases, 10 -- Non-SMD Case, 10 -- SMD Case and Sensitivity Cases, 10 -- 3. Estimating the Impacts of SMD: Quantitative Analysis of Increased Electricity Commerce, 15 -- Wholesale and Retail Price Impacts of Increased Electricity Commerce Under SMD, 15 -- The POEMSModel, 15 -- POEMS Scenario Assumptions, 16 -- Costs To Implement SMD, Including Establishment and Operation of RTOs, 17 -- Non-SMD Case Results, 20 -- SMD Case Results, 21 -- Sensitivity Case Results, 26 -- Discussion of Regional Impacts, 28 -- Changes in Usage of Transmission Networks Under SMD, 44 -- The MAPSModel, 44 -- Assumed Effect of RTO Formation on Inter-Regional Transactions, 44 -- SMD and Sensitivity Cases, 45 -- Impacts of SMD on Transmission Utilization, 45 -- Sensitivity Cases, 49 -- 4. Estimating the Impacts of SMD: Qualitative Analysis, 51 -- Impacts on the Reasonableness of Electricity Prices and Potential Need -- for Market Power Mitigation, 51 -- SMD and the Potential for Recurrence of California-Like Conditions, 51 -- Market Monitoring and Mitigation of Market Power, 52 -- Impacts on Energy Infrastructure Development and Investor Confidence, 52 -- Background, 53 -- Reactions to FERC?s SMD Proposal, 54 -- Summary Regarding Investor Confidence and Infrastructure Development, 55 -- Impacts on Security and Reliability of Generation and Transmission Infrastructure, 55 -- Background on Reliability, 55 -- Components of SMDWith Little or No Impact on Electric System Reliability, 56 -- Components of SMD Resulting in Improvements to Electric System Reliability, 57 -- Impacts on State Regulation of Electric Utilities, 58 -- Independent Grid Operator and Service to Retail Customers, 59 -- Market Power Mitigation, Regional Resource Adequacy Requirements and Regional Transmission Planning, 59


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