It is possible that a resource offered in the Day Ahead Market might appear to be economic, or "in the money", but still not be given a Day Ahead award, or "clear".
The reasons why can be complex, but Market Participants should be aware that In the Day-Ahead Market, MISO uses simultaneously co-optimized Security Constrained Unit Commitment (“SCUC”), Security Constrained Economic Dispatch (“SCED”) and SCED-Pricing algorithms to clear the Energy and Operating Reserve Markets.
These algorithms determine the least cost solution where the demand for energy equals the quantity supplied. The process considers many variables over the entire MISO footprint. These variables include demand bids, transmission system congestion, planned and unplanned generator and transmission system outages and others. Commitment and Dispatch Operating Parameters Offer data associated with the starts, run time and down time are used to determine the optimum commitment (more detail on this can be found in BPM-002).
The Day Ahead Market results also include a locational marginal price (LMP) at every pricing location (CPnode).
More complete information on Day Ahead unit commitment and LMP calculation can be found in BPM 002 – Energy and Operating Reserves Market