Executive Summary

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

CAISO area performance:

  • Peak loads for ISO area exceeded 40,000 MW in 19 days due to high temperature.
  • Across the integrated forward market (IFM), fifteen-minute market (FMM) and real-time dispatch market (RTD), SCE, SDGE and VEA prices were elevated for a few days due to transmission congestion.
  • Congestion rents for interties skidded to $5.17 million from $30.25 million in July. Majority of the congestion rents accrued on Malin500 (66 percent) and NOB (32 percent) intertie.
  • In the congestion revenue rights (CRR) market, the balancing account had a surplus of approximately $15.06 million, which was allocated to measured demand.
  • The monthly average prices increased for regulation down and non-spin reserve. There was no scarcity event this month.
  • The bid cost recovery rose to $37.18 million from $22.59 million in July.
  • The real-time energy offset cost edged down to $14.96 million from $15.62 million in July. The real-time congestion offset cost increased to $30.16 million from $19.88 million in July.
  • The volume of exceptional dispatch rose to 156,047 MWh from 75,251 MWh in July. The main reasons for exceptional dispatch were ramping capacity and planned transmission outage.

Western Energy Imbalance Market (WEIM) performance:

  • In the FMM and RTD, the prices for most EIM entities were elevated on August 16 and 31 driven by high system-wide load and limited supply.
  • The monthly average prices in FMM for EIM entities (AVA, AZPS, BANC, BCHA, BPAT, IPCO, LADWP, NEVP, NWMT, PACE, PACW, PGE, PNM, PSEI, SCL, SRP, TEPC, TIDC and TPWR) were $67.71, $96.89, $105.55, $61.43, $80.15, $81.56, $108.15, $93.25, $69.45, $81.03, $76.21, $76.73, $83.84, $73.82, $73.95, $88.23, $95.82, $100.14 and $74.12 respectively.
  • The monthly average prices in RTD for EIM entities (AVA, AZPS, BANC, BCHA, BPAT, IPCO, LADWP, NEVP, NWMT, PACE, PACW, PGE, PNM, PSEI, SCL, SRP, TEPC, TIDC and TPWR) were $62.74, $89.29, $97.40, $57.21, $68.34, $75.35, $98.21, $90.34, $64.31, $73.75, $68.01, $68.56, $78.27, $66.39, $66.66, $83.61, $88.97, $94.15 and $66.69 respectively.
  • Bid cost recovery, real-time imbalance energy offset, and real-rime congestion offset costs for EIM entities (AVA, AZPS, BANC, BCHA, BPAT, IPCO, LADWP, NEVP, NWMT, PACE, PACW, PGE, PNM, PSEI, SCL, SRP, TEPC, TIDC and TPWR) were $5.22 million, $7.15 million and -$5.76 million respectively.