*3.1. Data*

Historical electricity price data is collected from the pricing reports of ISO New England Inc. (https://www.iso-ne.com/isoexpress/web/reports/pricing/-/tree/zone-info), where historical Standard Market Design (SMD) hourly data files are available for LMP by month and year. This paper used a file of 2019 SMD Hourly Data in the reports for analysis.

Each spreadsheet in the file has price information for eight zones and one hub, including hourly LMPs, the components of energy, congestion cost, and marginal loss, as well as hourly demand and weather. This research will use the DAM congestion costs because an FTR value is settled at the DAM. Besides, hourly prices will be broken down to two categories, onpeak and o ffpeak. Analysis focus will be on daily onpeak prices only, with onpeak hours being from hours ending 0800 to 2300 during weekdays, while o ffpeak hours include hours ending 2400 to 0700 during weekdays and all 24 h during weekends and NERC holidays.
