This report presents one of the Smart Grid principle characteristics, i.e. the enabling of new products, services and markets. The Smart Grid will enable three evolutionary changes to the current electricity market. First, the future state will link the buyers and sellers of electricity, e.g., RTO to consumer. New opportunities will arise from distributed energy resources such as PHEVs and other energy storage assets along with distributed generation allowing brokers, integrators, and aggregators and enabled consumers to interact in real time with the electricity market. Second, new electricity markets will be established through the introduction of new commercial goods and services. And lastly, restructured markets will provide for consistent market operation across the various regions.