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Notice
July 1, 2020

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Markets
Department of Market Monitoring 2019 Annual Report on Market Issues and Performance Report Posted, Call 7/6/20

MESSAGE

The California ISO Department of Market Monitoring has scheduled a stakeholder web conference on July 6, 2020, to discuss the analysis and findings of its 2019 Annual Market Issues and Performance Report, which is available on its website at http://www.caiso.com/Documents/2019AnnualReportonMarketIssuesandPerformance.pdf

 

The 2019 Annual Report provides highlights of significant market changes and performance. The report finds that the ISO and energy imbalance markets continued to perform efficiently and competitively. In the ISO, total wholesale electric costs decreased to $8.8 billion or about $41/MWh, driven by a 10 percent decrease in natural gas prices and low system load. Prices in the day-ahead market were higher than real-time prices, but the difference was less than in recent years.

 

Expansion of the Western Energy Imbalance Market (EIM) helped improve the overall structure and performance of the real-time market in the ISO and other participating balancing areas. In April 2019, one new market participant (the Sacramento Municipal Utility District in the Balancing Area of Northern California) joined the energy imbalance market. The combined ISO and Western EIM footprint peaked at over 79 GW, accounting for over half of load in the Western Energy Coordinating Council (WECC).

 

Payouts to holders of auctioned congestion revenue rights (CRRs) exceeded the auction revenues by over $22 million in 2019. In response to systematic losses from congestion revenue right auction sales since 2009, the ISO instituted significant changes to the auction starting in 2019. The reduction in losses from the auction in 2019 resulted from a combination of the changes implemented by the ISO, along with a significant drop in day-ahead market congestion. Ancillary service costs decreased to $148 million and bid cost recovery payments in the ISO decreased to the second highest value since 2011, totaling $123 million, or about 1.4 percent of total energy costs. Total real-time imbalance offset costs decreased to $103 million, but remained high.

 

Information related to market monitoring is available at http://www.caiso.com/market/Pages/MarketMonitoring/Default.aspx.

 

Meeting Details

Date: July 6, 2020

Time: 1 p.m. - 2 p.m. Pacific Time

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Participation information

Step 1: call 1-877-369-5230 or 1-617-668-3632, access code: 0492586##

Step 2: https://ems8.intellor.com/login/825757

Technical support: call the AT&T Help Desk at 1-888-796-6118


CONTACT INFORMATION

Amelia Blanke at ablanke@caiso.com or ISO Department of Market Monitoring (916) 608-1220

 

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California Independent System Operator | P.O. Box 639014 | Folsom, CA 95630 | United States