Department of Market Monitoring Quarterly Market Issues and Performance Report Posted, Call 9/10/19
The California ISO Department of Market Monitoring has scheduled a stakeholder web conference on Sept. 10, 2019, to discuss the analysis and findings of its second quarter 2019 Market Issues and Performance Report, which is available on the ISO website at
The second quarter 2019 Market Issues and Performance Report includes coverage of market performance in both the day-ahead and energy imbalance market. The total estimated wholesale cost of serving ISO load in the second quarter of 2019 was about $1.4 billion or about $27/MWh. This 11 percent decrease relative to the second quarter of 2018 was driven by high availability of hydroelectric, wind and solar resources. Average quarterly day-ahead prices were significantly lower than both 15-minute and 5-minute prices for the first time since 2014. During the second quarter of 2019, congestion revenue rights auction revenues were $6.6 million less than payments made to non-load-serving entities purchasing these rights, compared to a difference of
$17 million in the second quarter of 2018. This reduction is due in part to changes in the auction design implemented for the 2019 auction, as well as a significant decrease in congestion and change in congestion patterns compared to Q2 2018. Incremental energy subject to local market power mitigation increased significantly in the second quarter of 2019 compared to the same quarter in 2018 in both the day-ahead and 15-minute markets. Total energy resulting from all types of exceptional dispatch nearly tripled in the second quarter of 2019 compared to the same quarter in 2018, averaging 0.11 percent of system load. The Balancing Authority of Northern California (BANC) joined the energy imbalance market on April 3, 2019. BANC participates in the energy imbalance market
with the Sacramento Municipal Utility District as a member within the balancing area.