ABSTRACT
Summary: In this chapter, major market models as related to the ISO in the United States will be presented; these models include California, Pennsylvania–New Jersey–Maryland (PJM) interconnection, New York ISO, Electric Reliability Council of Texas (ERCOT), New England ISO and Midwest ISO (MISO). We discuss some of the shortcomings and advantages of these models and focus on restructuring process in the Unites States, discuss some of the proposals in a detailed manner and present comparisons between proposals.
