SOURCE: California Independent System Operator Corporation

California Independent System Operator Corporation

July 30, 2015 20:03 ET

Robust Western Energy Imbalance Market Benefits Reach $10.2m

Increased Power Transfers in Q2 Help Lower Costs and Integrate Renewables

FOLSOM, CA--(Marketwired - July 30, 2015) - California Independent System Operator (ISO) analysis reveals the western Energy Imbalance Market (EIM) benefits reached $10.18 million in the second quarter. Total gross benefits for the eight months of the EIM operation now stand at $21.41 million, which is in line with pre-launch estimates. The regional EIM was launched with the ISO's first partner, PacifiCorp, on November 1, 2014.

This is the first report in which benefits were measured based on the five-minute interval market results, which provides more granularity into the Energy Imbalance Market dispatch and prices. The two previous quarterly reports were calculated based on the fifteen-minute interval market results.

"The second quarter of 2015 saw more transfers between PacifiCorp and the ISO, which allows lower cost energy from one area to meet demand in another," said Mark Rothleder, Vice President, Quality and Renewable Integration at the ISO.

Transfers during the second quarter reached 260,452 megawatt-hours from PacifiCorp to the ISO and 35,368 MWh from the ISO to PacifiCorp, which reflects seasonal changes to system conditions. In the first quarter, 180,412 megawatt-hours of energy were transferred from PacifiCorp to the ISO, while 53,613 megawatt-hours were exported from the ISO to PacifiCorp.

"This robust activity not only reduces energy production costs but it also means grid operators can more efficiently integrate renewable resources, while meeting environmental goals," Rothleder said. In addition to using a more granular five minute analysis, the new analysis also improves upon the greenhouse gas revenue accounting.

The Energy Imbalance Market is a wholesale energy market, which encompasses entities in six states that can buy and sell energy every fifteen minutes, with power plant dispatching every five minutes. Las Vegas-based NV Energy is slated to participate this fall, with Puget Sound Energy of Bellevue, Wash., and Arizona Public Service of Phoenix, Ariz., scheduled to enter the market in October 2016.

To read the second quarter report, go to caiso.com or click here.

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The California ISO provides open and non-discriminatory access to one of the largest power grids in the world. The vast network of high-voltage transmission power lines is supported by a competitive energy market and comprehensive grid planning. Partnering with about a hundred clients, the nonprofit public benefit corporation is dedicated to the continual development and reliable operation of a modern grid that operates for the benefit of consumers. Recognizing the importance of the global climate challenge, the ISO is at the forefront of integrating renewable power and advanced technologies that will help meet a sustainable energy future efficiently and cleanly.

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Contact Information

  • Steven Greenlee
    sgreenlee@caiso.com
    916 608-7170
    916 990-4295

    California ISO Media Hotline
    888.516.6397

    250 Outcropping Way
    Folsom, California 95630
    www.caiso.com