Executive Summary

This Report covers market performance for April, 2022. The key market performance highlights are presented here:

CAISO area performance:

  • Peak loads for ISO area exceeded 30,000 MW in early April due to warm weather.
  • Across the integrated forward market (IFM), fifteen-minute market (FMM) and real-time dispatch market (RTD), PGAE prices were elevated due to transmission congestion.
  • Congestion rents for interties dropped to $2.17 million from $11.68 million in March. Majority of the congestion rents accrued on Malin500 (60 percent) and NOB (38 percent) intertie.
  • In the congestion revenue rights (CRR) market, the balancing account had a surplus of approximately $13.38 million, which was allocated to measured demand.
  • The monthly average prices fell for regulation up, spin and non-spin reserves. There was one scarcity event this month.
  • The bid cost recovery increased to $11.41 million from $10.38 million in March.
  • The real-time energy offset cost rose to $12.23 million from $0.70 million in March. The real-time congestion offset cost declined to $15.27 million from $20.21 million in March.
  • The volume of exceptional dispatch increased to 68,660 MWh from 54,663 MWh in March. The main reasons for exceptional dispatch were planned transmission outage, unit testing and voltage support.

Western Energy Imbalance Market (WEIM) performance:

  • In the FMM and RTD, the prices for TIDC were elevated on April 12 and 13 due to transmission congestion.
  • The monthly average prices in FMM for EIM entities (AVA, AZPS, BANC, BCHA, IPCO, LADWP, NEVP, NWMT, PACE, PACW, PGE, PNM, PSEI, SCL, SRP, TIDC and TPWR) were $57.48, $45.38, $65.20, $51.73, $56.80, $54.97, $48.66, $56.92, $45.26, $59.49, $59.44, $42.58, $59.52, $59.96, $47.49, $68.68 and $59.05 respectively.
  • The monthly average prices in RTD for EIM entities (AVA, AZPS, BANC, BCHA, IPCO, LADWP, NEVP, NWMT, PACE, PACW, PGE, PNM, PSEI, SCL, SRP, TIDC and TPWR) were $53.75, $37.20, $56.37, $49.58, $52.78, $45.33, $41.88, $53.33, $38.84, $56.90, $56.65, $34.99, $57.50, $57.61, $41.11, $60.04 and $57.13 respectively.
  • Bid cost recovery, real-time imbalance energy offset, and real-rime congestion offset costs for EIM entities (AVA, AZPS, BANC, BCHA, IPCO, LADWP, NEVP, NWMT, PACE, PACW, PGE, PNM, PSEI, SCL, SRP, TIDC and TPWR) were $1.10 million, $2.05 million and -$7.46 million respectively.