In April 2003 the U.S. Federal Energy Regulatory Commission proposed a complicated marketdesign – the Wholesale Power Market Platform (WPMP) – for common adoption byall U.S. wholesale power markets. Versions of the WPMP have been implemented in NewEngland, New York, the mid-Atlantic states,...

Nonlinear AC Optimal Power Flow (OPF) problems are commonly approximatedby linearized DC OPF problems to obtain real power solutions for restructured wholesalepower markets. We first present a standard DC OPF problem, which has thenumerically desirable form of a strictly convex quadratic...

This paper reviews both theoretical and empirical studies of financial transmissionrights (FTRs) in the major U.S. wholesale power markets and provides a simple il-lustrative two-stage model to study the competitive behaviors of electricity generators(wholesale power sellers) and load serving...