Standard Market Design. On March 1, 2003, ISO New England will implement a major redesign of the set of rules and procedures for the New England wholesale electricity market. The foundation of SMD is locational marginal pricing and multi-settlement system. The goal of SMD is provide predictable results: greater economic efficiency and competition, maintain power system reliability and reasonable wholesale electricity prices.
Standard Market Design. FERC proposal to implement the same set of rules for all users of the transmission grid. Under the proposal, the grid would be administered by an independent entity. The SMD proposal includes market rules that protect against market manipulation; customer protection through market power mitigation measures and oversight; and clear transmission pricing and planning policies for grid expansion.