IEEE Power & Energy Magazine - July/August 2020 - 28

✔ continuous mode
✔ charge mode
✔ discharge mode.

An ESR could also participate in the synchronized reserve
market without an energy offer if it were physically connected
to the grid and capable of providing energy within 10 min.
ESRs are allowed to participate in the capacity market as
well, and they may derate their capacity to meet market re-
quirements. Similar to other resources, ESRs are dispatched

and set the wholesale market clearing price as both a whole-
sale seller and a wholesale buyer. They are also subject to
deviation charges and eligible to receive make-whole pay-
ments when moved off economic dispatch.

DR
Electricity demand, once static, is increasingly elastic and
responsive to price signals, making the grid more reliable
and resilient. There are more than 10,000 MW of DR in the

12 Noon

Between 12 and 4 p.m.,
PJM closes the day-ahead
market for evaluation.

Until 12 noon,
PJM receives bids and offers
for energy for the next
operating day.

4 p.m.

4-6 p.m.:
Rebidding Period

6 p.m.

Throughout the operating day,
PJM continually reevaluates and sends
out individual generation schedule updates, as required.

Midnight
(a)
Rebidding
(1:30-2:15 p.m.)

PJM Day-Ahead
Bidding (Through 10:30 a.m.)
Day-Ahead
Market Clearing

Day-Ahead Results Posted
No Later Than 1:30 p.m.

Timely
Nomination
(Midnight-2 p.m.)

Noon

6 p.m.

Midnight

6 a.m.

Evening
Intraday
Intraday
Intraday
Nomination 1 Nomination 2
Nomination 2
Nomination 3
(2-7 p.m.)
(7 p.m.-11 a.m.) (11 a.m.-3:30 p.m.) (3:30-8 p.m.)

Noon

6 p.m.

Midnight

6 a.m.

Noon

6 p.m.

Midnight

6 a.m.

(b)

figure 6. The day-ahead market timeline (a) before and (b) after 1 April 2016.
28

ieee power & energy magazine

july/august 2020



IEEE Power & Energy Magazine - July/August 2020

Table of Contents for the Digital Edition of IEEE Power & Energy Magazine - July/August 2020

Contents
IEEE Power & Energy Magazine - July/August 2020 - Cover1
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