The Role of the ISO in U.S. Electricity Markets: A Review of Restructuring in California and PJM

Lisa Cameron and Peter Cramton , The Electricity Journal 12(3) , 71-81 , April 1999.

Despite their design differences, both the California and the Pennsylvania-New Jersey-Maryland markets provide explicit roles for competition in the scheduling functions while allowing the ISO to manage the spot market. Experience has shown that both can work.

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