Revised: Significant Event Capacity Procurement Mechanism Designation on 8/17/20 and 8/18/20
The California ISO issued Significant Event Capacity Procurement Mechanism (CPM) designations on Aug. 17, 2020 and Aug. 18, 2020, to the resources listed below to address a CPM significant event. As required by the tariff, the ISO posted a notice announcing these designations on Aug. 19, 2020. That notice contained two errors, which are corrected below.
A CPM Significant Event is “a substantial event, or a combination of events, that is determined by the ISO to either result in a material difference from what was assumed in the resource adequacy program for purposes of determining the Resource Adequacy Capacity requirements, or produce a material change in system conditions or in the ISO Controlled Grid operations, that causes, or threatens to cause, a failure to meet Reliability Criteria absent the recurring use of a non-Resource Adequacy resource(s) on a prospective basis.”
The ISO has designated the capacity identified below effective Aug. 17, 2020 and Aug. 18, 2020, to meet the need created by the current record-breaking heat wave across California and other western states that the ISO determined, in combination with other operating factors, constitutes a CPM Significant Event. The resources listed below offered capacity to the ISO to use under CPM, and that capacity was not procured previously as Resource Adequacy capacity. The total quantity resulting from the designation was 432.75 425.25megawatts (MW).
The CPM term for these resources is 30 days, as provided under the tariff, subject to adjustment and the payment provisions set forth in Section 43A of the ISO tariff.