Executive Summary

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

CAISO area performance:

  • Peak loads for ISO area continued to be low this month driven by low temperatures.
  • Across the integrated forward market (IFM), fifteen-minute market (FMM) and real-time dispatch market (RTD), SDGE prices were elevated for a few days due to transmission congestion.
  • Congestion rents for interties rose to $15.56 million from $4.51 million in December. Majority of the congestion rents accrued on Malin500 (21 percent), NOB (16 percent) and Palo Verde (62 percent) intertie.
  • In the congestion revenue rights (CRR) market, the balancing account had a surplus of approximately $6.02 million, which was allocated to measured demand.
  • The monthly average prices decreased for regulation up, spin and non-spin reserves. There were no scarcity events this month.
  • The bid cost recovery fell to $8.07 million from $11.22 million in December.
  • The real-time energy offset cost increased to $5.47 million from $4.82 million in December. The real-time congestion offset cost dropped to $1.69 million from $6.52 million in December.
  • The volume of exceptional dispatch slid to 36,080 MWh from 71,707 MWh. The main reasons for exceptional dispatch were voltage support and planned transmission outage.

Energy Imbalance Market (EIM) performance:

  • In the RTD, ELAP price for SRP was elevated due to transmission congestion, upward load adjustment and renewable deviation.
  • The monthly average prices in FMM for EIM entities (AZPS, BANC, BCHA, IPCO, LADWP, NEVP, NWMT, PACE, PACW, PGE, PNM, PSEI, SCL, SRP and TIDC) were $39.20, $53.00, $36.37, $42.98, $50.08, $40.47, $40.60, $37.26, $38.96, $38.32, $37.01, $36.57, $37.23, $39.34, and $54.26 respectively.
  • The monthly average prices in RTD for EIM entities (AZPS, BANC, BCHA, IPCO, LADWP, NEVP, NWMT, PACE, PACW, PGE, PNM, PSEI, SCL, SRP and TIDC) were $33.24, $45.13, $34.34, $38.22, $41.59, $34.64, $37.61, $32.13, $35.41, $35.50, $32.50, $33.52, $34.06, $34.90, and $46.40 respectively.
  • Bid cost recovery, real-time imbalance energy offset, and real-rime congestion offset costs for EIM entities (AZPS, BANC, BCHA, IPCO, LADWP, NEVP, NWMT, PACE, PACW, PGE, PNM, PSEI, SCL, SRP and TIDC) were $2.06 million, $6.90 million and -$2.74 million respectively.