Convergence bidding

Market participants can buy or sell energy in the day-ahead market with the explicit requirement to buy or sell it back in the real-time market using convergence bidding. There is no requirement for such bids to be backed by physical assets. This type of bidding, also called virtual bidding, pressures prices in the day-ahead and real-time markets to move closer together, or converge, reducing incentives for buyers and sellers to wait to bid physical schedules in the real time market. Awards are paid or charged the day-ahead price and automatically liquidated at the relevant hour-ahead scheduling process or real-time price. Email questions about the registration process to


Become a scheduling coordinator

To participate in the ISO market a company must be a certified scheduling coordinator (SC) or retain the services of a certified SC to act on their behalf. View how to become a scheduling coordinator.

Related ISO Tariff and Business Practice Manuals

Reference Section 4.5.2 Eligible Customers and Convergence Bidding Entities

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