@inproceedings{9ae68b384c444c2cb28f1ef70d40ad36,
title = "The effects of extended locational marginal pricing in wholesale electricity markets",
abstract = "In this paper, two pricing mechanisms in electricity markets are studied, the locational marginal price (LMP) and the extended locational marginal price (ELMP). The effects of these two pricing mechanisms are compared with regards to the allocation of the market surplus between generators and loads. The two pricing mechanisms are also analyzed with regards to the required uplift payments. The results confirm that uplift payments are reduced under the ELMP pricing mechanism. However, ELMP does not appropriately represent the marginal market clearing price for the market dispatch solution.",
keywords = "Extended locational marginal price, locational marginal price, non-convex markets, pricing mechanisms, uplifts",
author = "Gregory Thompson and Chao Li and Muhong Zhang and Kory Hedman",
year = "2013",
month = dec,
day = "1",
doi = "10.1109/NAPS.2013.6666921",
language = "English (US)",
isbn = "9781479912551",
series = "45th North American Power Symposium, NAPS 2013",
booktitle = "45th North American Power Symposium, NAPS 2013",
note = "45th North American Power Symposium, NAPS 2013 ; Conference date: 22-09-2013 Through 24-09-2013",
}