Webinar: Price Formation and Extended LMP (E-LMP) in Organized Markets

Featured Speaker: Erik Ela is the Principal Technical Leader at the Electric Power Research Institute. He conducts collaborative research and development in areas of electricity market operations, power system operations, and integration of renewable and emerging technologies. He has spoken on these topics to over 80 venues around the world. Dr. Ela received a B.S., M.S., and PhD in electrical engineering. Before joining EPRI, he led research as a senior engineer at the National Renewable Energy Laboratory and as an engineer facilitating new energy and ancillary service designs and renewable integration at the New York Independent System Operator. Dr. Ela is an associate editor for the IEEE Transactions on Power Systems, and is a member of several committees and working groups within IEEE’s Power and Energy Society and CIGRE.

Moderator: Mark Ahlstrom, Vice President, Nextera Energy Resources

Registration Cost: FREE

Additional Information: There has been a lot of discussion lately about incentivizing and compensating additional resiliency and reliability in the organized electricity markets of the United States, including a number of proposed reforms to the wholesale electricity market design.  A Notice of Proposed Rulemaking was established by the U.S. Department of Energy on reliability and resilience pricing in organized markets. A large number of commenters submitted responses to the Federal Energy Regulatory Commission on what to and not to change in the organized markets. Other proposals have been announced to allow inflexible units and their complete set of operating costs to set prices based on a higher “true” cost.  There are many different ways that the organized markets do and can set the energy price, including MISO’s extended locational marginal price (ELMP).  This webinar will provide insights on these proposals and related questions along with the history and technical aspects of energy price formation and reliability and resilience pricing to help enable you to understand and participate in the ongoing discussion, and make some sense out of what you are hearing and reading in the daily conversations.