The remainder is conducted in the real-time market, where adjustments are made for conditions that occur within the day. The report is currently issued Monday through Friday and is intended for use by our Customers and Market Participants. Customers may choose to bid more or less than their load forecast with any excess or shortage being settled in the real-time market. These transactions are scheduled directly between a generator and a load, that is, bilateral - between two parties. This allows customers to set limits on the amount they are willing to pay for their energy.
Customers can also choose to buy more energy if the price is lower.
These load bids consist of price capped loads at internal NYCA bus specific locations and at the external proxy buses. The proxy bus loads are also considered exports. The amount scheduled is determined by price, thus not all that is bid gets scheduled. Energy flowing out of New York to the neighboring control areas. Again price determines how much energy is actually scheduled for export.