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California ISO Board Approves Increase in Bid Cap Level

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Summary:

California ISO Board Approves Increase in Bid Cap Level, FOR IMMEDIATE RELEASE December 16, 2005

Extract:

(Folsom, CA) To ensure reliable operation of the power grid and adequate availability of power supplies, the California Independent System Operator Corporation (California ISO) Board of Governors today approved a plan to increase the bid cap applied to the small amount of energy purchased through the ISO wholesale markets. Under the plan approved today, the California ISO will file a request with the Federal Energy Regulatory Commission (FERC) to raise the cap in the spot energy market from a $250 per megawatt-hour “soft cap” to a $400 per megawatt-hour “hard cap”, meaning bidders would not be allowed, as they are now, to bid above that set cap level. The ISO will now seek approval for the new cap from FERC. The change would not affect the ISO operating reserve market, which would retain its $250 cap.

Document Locations:

• News Releases - 2005