ABSTRACT
The smart grid ensures access to wholesale markets, which are important to monetize and make economic decisions for energy resources. Retail and distributed energy markets are also critical to enable energy resources to be monetized and fully used on the distribution grid. The dynamics of transmission power flow must be considered, especially to understand voltage constraints and possible loop-flow. The primary products in virtually all Independent System Operators/Regional Transmission Organizations (ISOs/RTOs) include the: access to the transmission system by large generators and consumers of electricity and power; energy as a commodity; and capacity availability, though these requirements differ substantially between ISOs/RTOs. Integration and optimization of all energy resources should be achieved across both wholesale and retail markets in order to capture the full value and all related costs for the transmission grid, distribution network, and customers, including distributed energy resources (DERs). A primary objective for DER resources is to maximize value for customers, the distribution system, and the bulk grid.
