3 Market Performance Metrics
Day-Ahead Prices
Figure 2 show the daily simple average load-aggregation points (LAP) prices for each of the four default LAPs (PG&E, SCE, SDG&E, and VEA) for all hours. Table 2 below lists the binding constraints along with the associated DLAP locations and the dates when the binding constraints resulted in relatively high or low DLAP prices. All four DLAP LMPs were generally high in December due to high natural gas prices.
Figure 2: Day-Ahead Simple Average LAP Prices (All Hours)
| DLAP | Dates | Transmission Constraint |
|---|---|---|
| PGAE | December 22 | PANOCHE-GATES 230 kV line |
Real-Time Price
Figure 3 show daily simple average LAP prices for all the default LAPs (PG&E, SCE, SDG&E, and VEA) for all hours respectively in FMM. Table 3 lists the binding constraints along with the associated DLAP locations and the dates when the binding constraints resulted in relatively high or low DLAP prices. All four DLAP LMPs were high in December driven by increased natural gas prices.
Figure 3: FMM Simple Average LAP Prices (All Hours)
| DLAP | Dates | Transmission Constraint |
|---|---|---|
| PGAE | December 22 | GATES1-MIDWAY 500 kV line |
Figure 4 below shows the daily frequency of positive price spikes and negative prices by price range for the default LAPs in the FMM. The cumulative frequency of prices above $250/MWh escalated to 43.23 percent in December from 0.32 percent in November due to high natural gas prices. The cumulative frequency of negative prices slid to 0.13 percent in December from 0.46 percent in November.
Figure 4: Daily Frequency of FMM LAP Positive Price Spikes and Negative Prices
Figure 5 show daily simple average LAP prices for all the default LAPs (PG&E, SCE, SDG&E, and VEA) for all hours respectively in RTD. TABLE 4 lists the binding constraints along with the associated DLAP locations and the dates when the binding constraints resulted in relatively high or low DLAP prices. In December, all four DLAP LMPs were high due to increased natural gas prices.
Figure 5: RTD Simple Average LAP Prices (All Hours)
| DLAP | Dates | Transmission Constraint |
|---|---|---|
| PGAE | December 22 | GATES1-MIDWAY 500 kV line |
Figure 4 below shows the daily frequency of positive price spikes and negative prices by price range for the default LAPs in RTD. The cumulative frequency of prices above $250/MWh rose to 41.69 percent in December from 0.25 percent in November due to high natural gas prices. The cumulative frequency of negative prices decreased to 0.17 percent in December from 1.04 percent in November.
Figure 6: Daily Frequency of RTD LAP Positive Price Spikes and Negative Prices
