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Off Peak

Fortnightly Magazine - May 1 1997

an entity would not automatically receive the market-clearing price. Instead it would receive the highest price received by that entity in a sale under an arms-length bilateral trade of 5 MW or larger with another WSCC entity in that hour, or the PX price, whichever is lower. ... No rational market would pay a price for dump hydro from an external source higher than the highest marginal producer internal to the market."

(em Trustee's Transmittal Letter,

FERC Docket Nos. EC96-19-001, ER96-1663-001,

filed March 31, 1997.

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