The North American Electric Reliability Council (NERC) is in the process of developing mandatory compliance standards. An important aspect of a standard is the associated performance metrics that are employed to determine if the appropriate entities are in compliance. The Consortium for Electric Reliability Technology Solutions (CERTS) has been working with NERC and other organizations to research, develop, and disseminate new methods, tools and technologies to protect and enhance the reliability of the U.S. electric power system under the emerging competitive electricity market structures. The monitoring system also offers a base from which grid security can be improved to help protect the market from "gaming", and market manipulations. In particular, CERTS has developed and demonstrated the Grid Real-Time Performance Monitoring and Prediction Platform (Grid-3P©) for developing applications to manage grid reliability and monitor market performance in real time. Grid 3P complements and integrates with existing SCADA systems and utilizes real time data engines and graphic geographic visualization tools to develop reliability applications to assist operating authorities, e.g., Independent System Operators (ISO's), Regional Transmission Organizations (RTO's), Reliability Coordinators and Control Area Dispatchers in their management of grid reliability.