Fig. 2: Coincidence of historic high-value transmission arbitrage events.
a, The correlation coefficient between LMPs in each operating region with darker colours displaying higher correlations for the day-ahead (DAH) and real-time (RTH) markets43. Regions that are geographically separated or on different a.c. interconnects have low price correlation (<0.5), while those that are geographically near one another have stronger correlation. b, Comparison of the estimated value of transmission lines using DAH and RTH prices43. Between 17% (DAH) and 25% (RTH) of total transmission line value is concentrated in 1% of hours. c, The percent of total bidirectional transmission value between nodes across regions that is in the same direction (that is, power always moving from Region 1 to Region 2). Over a ten-year period, on average, between 40% (unidirectional for a month) and 85% (unidirectional for a day) of total transmission value can be captured by sending power in only a single direction during the highest-valued hours.
