Executive Summary

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

CAISO area performance:

  • Peak loads for ISO area exceeded 35,000 MW in late June driven by heat wave.
  • 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 increased to $52.73 million from $15.31 million in May. Majority of the congestion rents accrued on Malin500 (53 percent) and NOB (46 percent) intertie.
  • In the congestion revenue rights (CRR) market, the balancing account had a surplus of approximately $9.95 million, which was allocated to measured demand.
  • The monthly average prices increased for regulation down, spin and non-spin reserves. There was no scarcity event this month.
  • The bid cost recovery rose to $21.52 million from $17.98 million in May.
  • The real-time energy offset cost increased to $7.63 million from $0.47 million in May. The real-time congestion offset cost increased to $76.10 million from $29.55 million in May.
  • The volume of exceptional dispatch increased to 136,470 MWh from 79,613 MWh in May. The main reasons for exceptional dispatch were reliability assessment, planned transmission outage and ramping capacity.

Western Energy Imbalance Market (WEIM) performance:

  • In the FMM and RTD, SRP prices were elevated on June 28 due to net import reduction, renewable deviation, upward load adjustment and generation outage.
  • 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 $11.60, $63.67, $67.80, $14.83, $9.29, $31.60, $62.65, $54.21, $14.41, $39.54, $12.38, $14.86, $49.04, $12.41, $11.72, $66.46, $63.74, $67.55 and $12.84 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 -$1.44, $59.40, $72.37, $9.77, $1.36, $17.83, $55.39, $49.53, $3.90, $29.56, -$1.73, -$0.41, $44.38, $6.56, $5.13, $68.51, $58.40, $71.95 and $6.30 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 $3.16 million, $3.31 million and -$9.89 million respectively.