  In Part II of this two-part paper, we analyze the marginal prices derived in
Part I of this two-part paper within a robust optimization framework. The load
and generation are priced at Locational Marginal Price (LMP) while the
uncertainty and generation reserve are priced at Uncertainty Marginal
Price(UMP). The Financial Transmission Right (FTR) underfunding is demonstrated
when there is transmission reserve. A comparison between traditional reserve
price and UMP is presented. We also discuss the incentives for market
participants within the new market scheme.
