Wholesale trading systems contract
Cegelec ESCA Corporation is to deliver a fixed transmission right (FTR) auction software subsystem and a multi-settlement system to PJM Interconnection, the largest centrally dispatched electric control area in North America, to help create a competitive wholesale electric market.
The FTR auction system will create a more liquid and flexible market for transmission entitlements in PJM, which coordinates the operation of 450 generation units in Pennsylvania, New Jersey, Maryland, Delaware, Virginia and the District of Columbia. Both systems supplied include a Web-based market user interface that will integrate with PJM`s existing systems.
The multi-settlement system will initially implement a day-ahead market for electricity in the PJM control area. It will determine day-ahead hourly schedules of supply, demand and bilateral trades and will coordinate these with the requirements for reliable grid operation.
Cegelec ESCA has supplied similar systems to Australia, New Zealand and the New England ISO.