Executive Summary

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

CAISO area performance:

  • Peak loads for ISO generally decreased due to cooler weather.
  • Across the integrated forward market (IFM), fifteen-minute market (FMM) and real-time dispatch market (RTD), PGAE prices were elevated for a few days due to transmission congestion.
  • Congestion rents for interties skidded to $0.10 million from $26.87 million in September. Majority of the congestion rents accrued on Malin500 (49 percent) and IPPUTAH_ITC (47 percent) intertie.
  • In the congestion revenue rights (CRR) market, the balancing account had a surplus of approximately $7.84 million, which was allocated to measured demand.
  • The monthly average prices declined for all four types of ancillary services. There was no scarcity event this month.
  • The bid cost recovery slid to $17.29 million from $37.92 million in September.
  • The real-time energy offset cost skidded to $0.24 million from $88.92 million in September. The real-time congestion offset cost decreased to $19.70 million from $25.25 million in September.
  • The volume of exceptional dispatch fell to 88,523 MWh from 130,850 MWh in September. The main reasons for exceptional dispatch were voltage support and planned transmission outage.

Western Energy Imbalance Market (WEIM) performance:

  • In the FMM and RTD, the prices were generally quiet.
  • 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 $64.61, $56.36, $75.33, $66.85, $65.17, $63.15, $66.66, $57.62, $64.27, $59.28, $64.43, $64.56, $58.48, $64.10, $64.21, $55.54, $57.09, $76.44 and $64.14 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 $64.10, $54.06, $74.27, $64.82, $62.90, $61.24, $61.19, $56.85, $63.85, $56.80, $63.09, $62.58, $56.62, $61.65, $61.72, $51.25, $54.20, $76.50 and $61.66 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 $3.10 million, $4.65 million and -$3.89 million respectively.