Abstract
The existing New England electricity market follows a uniform pricing system: infra-marginal generators are paid a uniform clearing price while constrained-on generators are paid bid prices subject to a locational market power screen. In this paper, we first report the operation experience of this approach during the market's first two years. We then briefly review the NEPOOL locational pricing proposal being implemented. Two new approaches for locational market power screening are presented. The first one is based on a zonal network model and the second is based on a nodal transmission model. Both approaches are being evaluated by an independent consultant and are be to recommended to NEPOOL. Test results of both approaches are included.
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