TRANSMISSION-SYSTEM MANAGEMENT AND PRICING - NEW PARADIGMS AND INTERNATIONAL COMPARISONS

The transmission system, once the necessary but nearly invisible compo nent of the electric power system is now the focus of physical/electri cal and financial attention of the utility and, more significantly the ir potential suppliers/customers. This paper has three primary objecti ves. The first is to present a discussion of a new paradigm for the el ectric power industry. The second is to review transmission pricing op tions, specifically those utilizing either long run (LRMC) or short ru n (SRMC) marginal cost based approaches. The third will be to provide a review of innovative approaches to transmission asset management and finance as seen from international experience.