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Reliability & Markets

CERTS' objective in the area of Reliability and Markets is to conduct science-based research to understand how to design (as well as test and monitor) fair and transparent markets that will efficiently provide reliable electricity to consumers. As an impartial third party, CERTS can make technically sound investigations based on consistent economic principles, including investigations of market operations to understand current market events (e.g., price spikes) and analysis of the likely effects of proposed market design changes. Deepening the understanding of market operations will both decrease the need to interfere with the market (e.g., through price caps) and provide guidance to support operating decisions that improve reliability and market performance.

CERTS is developing a comprehensive set of integrated market/engineering design principles and tools for a restructured electricity industry. Development of these principles and tools relies on:

Key Accomplishments
Developed PowerWeb Experimental Economics Platform. More information
CERTS-DOE Reliability & Markets Internal Program Review, August 6-7, 2013, Ithaca, New York More information

Contacts:

Robert J. Thomas
Cornell University/PSERC
(607) 255-5083

http://certs.lbl.gov