Market Performance Report for February 2007
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Summary:
To facilitate dissemination of market information in a timely manner, the California ISO is posting on a planned and scheduled monthly basis the Market Performance Report for the previous month. The intention is to publish the report mid-month for the previous month's market information. This Market Performance Report is similar to the information provided to the Board and market, however available on a more consistently timed basis.
Extract:
Highlights for February 2007:
• February loads were up only slightly from the previous year. Cold weather during the last week raised the system load somewhat, but that increase was partially offset by somewhat lighter than normal loads in the earlier part of the month.
• Overall real-time energy prices increased from $47.25 to $51.25 as decremental volumes increased and incremental volumes declined.
• On average, real-time dispatch prices were less volatile in February exceeding $250 on 50 occasions as compared to 102 in January. Most of February's price events (26 out of 50) occurred on February 19th, and 27th because of a series of transmission line events.
• February's incremental Out-of-Sequence dispatch volumes declined by 28 percent to 30,000 MWh, and incremental costs decreased by a quarter to $1.8 million. Decremental volumes and costs increased by approximately 16 percent to 33, 000 MWh and by 67 percent to $220,000, respectively. The ISO continues to rely on OOS dispatches to manage reliability in the Humboldt region where a number of RMR contracts expired at the end of 2006.
• The average total cost of Ancillary Services decreased again in February to $0.40 from January’s $0.54.
• Total unit commitment costs declined in February to $1.9 million from $2.7 million in January. Local generation requirements were responsible for about two thirds of this month's costs, while transmission line maintenance account for most of the remainder.
• Total inter-zonal congestion costs fell to $1.83 million in February from $3.97 million in January. This is well below the average cost over the past 12 months of $4.5 million.
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