Executive Summary

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

CAISO area performance:

  • Peak loads for ISO area exceeded 40,000 MW in the middle of July due to heat wave.
  • Across the 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 dropped to $30.25 million from $52.73 million in June. Majority of the congestion rents accrued on Malin500 (54 percent) and NOB (45 percent) intertie.
  • In the congestion revenue rights (CRR) market, the balancing account had a surplus of approximately $16.87 million, which was allocated to measured demand.
  • The monthly average prices increased for regulation up, spin and non-spin reserves. There was no scarcity event this month.
  • The bid cost recovery inched up to $22.59 million from $21.52 million in June.
  • The real-time energy offset cost rose to $15.66 million from $7.31 million in June. The real-time congestion offset cost decreased to $19.92 million from $76.09 million in June.
  • The volume of exceptional dispatch skidded to 75,251 MWh from 136,470 MWh in June. The main reasons for exceptional dispatch were reliability assessment, load forecast uncertainty and ramping capacity.

Western Energy Imbalance Market (WEIM) performance:

  • In the FMM and RTD, IPCO prices were elevated on July 7 and 8 due to transmission congestion.
  • 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 $36.13, $72.05, $71.67, $36.90, $46.36, $68.82, $76.68, $69.13, $41.60, $64.82, $42.32, $43.06, $66.91, $40.51, $39.84, $67.08, $71.88, $72.28 and $39.27 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 $31.12, $67.38, $70.13, $32.32, $34.29, $60.46, $70.50, $66.91, $36.59, $59.21, $37.05, $36.74, $64.41, $34.42, $32.98, $68.46, $67.13, $70.84 and $32.79 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 $4.28 million, $6.21 million and -$1.02 million respectively.