Definitions for "Market clearing price"
Keywords:  mcp, constraints, ieso, demand, supply
The price at which supply equals demand for the Day-ahead or hour-ahead markets.
Price determined by buyers and sellers in a free market.
Price at which the maximum volume is traded according to the demand and supply curve. It corresponds to the intersection of the aggregated purchase and sale curves and does not take possible constraints of the transmission system into account. The term MCP is often used for the price resulting from the auction trade system of the Spot Market.