The California ISO is planning to file tariff revisions for the Federal Energy Regulatory Commission (FERC) Order No. 831 - Import Bidding and Market Parameters initiative in February 2021 in order to implement this initiative by June 2021.

Separately, the ISO must comply with the directives of FERC Order No. 831 by March 21, 2021. These directives include allowing for cost justified energy bids above $1,000 MWh from resources and sets the ISO’s maximum energy bid at $2,000 MWh. Pursuant to the directives of FERC Order No. 831, the maximum energy bid for import bids, virtual bids and demand bids will rise from $1,000 MWh to $2,000 MWh without any need to cost-justify those bids. In addition, the parameters the ISO uses for establishing market prices in certain instances under its tariff will also reflect the $2,000 MWh maximum energy bid. Next week, the ISO plans to file a petition for a limited waiver to extend the date on which it must comply with these directives in order to implement them simultaneously with the ISO’s FERC Order No. 831 - Import Bidding and Market Parameters initiative. 

The ISO will discuss these efforts at its Release User Group meeting on Jan. 26, 2021.

Information related to the FERC Order No.831 - Import Bidding and Market Parameters initiative is available at https://stakeholdercenter.caiso.com/StakeholderInitiatives/FERC-Order-831-Import-bidding-and-market-parameters.

Release User Group Meeting Details

Date: January 26, 2021

Time: 10 a.m. - 11 a.m. Pacific Time

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Participation Information

Step 1: call 1-866-528-2256, access code: 291 426 5

Step 2: https://caiso.webex.com/meet/RUG, meeting number: 960 941 245