In 2022, the California ISO engaged Energy Strategies, an independent energy consulting firm in Salt Lake City, Utah, to conduct an economic evaluation of the proposed Extended Day-Ahead Market (EDAM). This work builds off of the 2021 State-Led Market Study; a study conducted by western states and sponsored by the U.S. Department of Energy to evaluate the operational benefits and capacity savings that could accrue to individual states under various future market scenarios, including real-time, day-ahead, and RTO market constructs.
This new study, titled “CAISO EDAM Benefit Study”, evaluates the operational benefits and capacity savings of the EDAM for California and the West and reflects elements specific to the EDAM market design including an imbalance reserve product and waiver of transmission wheeling charges.
The study concluded that EDAM could result in $543M of operational savings per year across the West. The study also indicated the EDAM could result in up to $652M of capacity savings per year bringing a total potential benefit of up to $1.2B per year across the Western Interconnection.
The Committee on Regional Electric Power Cooperation (CREPC) will host a special webinar on Nov. 18, 2022, to discuss this CAISO EDAM Benefit Study. The study report is available on the California ISO’s Miscellaneous stakeholder meetings webpage.
Meeting details
Date: November 18, 2022
Time: 9:00 a.m. – 11:00 a.m. Pacific Time (10:00 a.m. – 12:00 p.m. Mountain Time)
Location: Please click here to register for the webinar.
