Power Marketers engage in the purchase and sale of virtual and physical wholesale electricity. Virtual electricity purchases and sales provide the means for market participants to manage their congestion risk (risk associated with an overloaded electrical grid), they provide a means to converge the Day-Ahead and Real-Time energy markets (which lowers overall costs to consumers). These purchases and sales bring liquidity to the markets which increases overall efficiency. Physical wholesale purchases and sales fulfill actual power needs in different regions of the country. This too brings liquidity and efficiency to a market where little to none may exist.
Learn more about the benefits provided by Power Marketers by exploring these authoritative studies:
HOGAN, W., Electricity Market Design: Financial Transmission Rights, Up To Congestion Transactions and Multi-Settlement Systems (July 16, 2012) ("2012 Hogan Study"), available at http://www.hks.harvard.edu/fs/whogan/Hogan_UTC_071612.pdf and posted as a non-decisional item in Docket No. EL12-8-000 (Sept. 18, 2012).
JHA, A AND WOLAK, F, Testing for Market Efficiency with Transaction Costs: An Application to Convergence Bidding in Wholesale Electricity Markets at 23 (May 7, 2013) (emphasis added), available at http://web.stanford.edu/group/fwolak/cgi-bin/sites/default/files/files/CAISO_VB_draft_V8.pdf ("Wolak Study").
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