Evolution of computing requirements in the PJM market: Past and future

Abstract

This paper discusses the implementation of successful computational innovations that have occurred to support the evolution of the PJM competitive wholesale electricity market. These innovations include the implementation of Mixed-integer programming based unit commitment, multi-stage real-time dispatch and software to support our perfect dispatch concept. The paper discusses the efficiency gains that the market experienced when these innovations were successfully incorporated into the market clearing processes at PJM. The paper will also overview computational challenges that must be overcome to support further evolution of the competitive wholesale and retail electricity markets.