Executive Summary

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

CAISO area performance:

  • Peak loads for ISO area exceeded 42,000 MW in the first nine days of this month due to the heat wave.
  • 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 increased to $26.87 million from $5.17 million in August. Majority of the congestion rents accrued on Malin500 (75 percent) and IPPUTAH_ITC (15 percent) intertie.
  • In the congestion revenue rights (CRR) market, the balancing account had a surplus of approximately $1.96 million, which was allocated to measured demand.
  • The monthly average prices increased for all four types of ancillary services. There was no scarcity event this month.
  • The bid cost recovery inched up to $38.42 million from $37.18 million in August.
  • The real-time energy offset cost rose to $88.71 million from $20.53 million in August. The real-time congestion offset cost decreased to $24.37 million from $33.23 million in August.
  • The volume of exceptional dispatch slid to 133,396 MWh from 154,315 MWh in August. The main reasons for exceptional dispatch were ramping capacity and planned transmission outage.

Western Energy Imbalance Market (WEIM) performance:

  • In the FMM and RTD, the prices for most EIM entities were elevated on September 1 and 6 due to high system-wide load driven by the heat wave.
  • 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 $72.47, $117.77, $130.82, $69.23, $91.32, $91.74, $135.08, $117.28, $73.20, $98.58, $89.12, $92.21, $102.47, $80.86, $80.39, $93.20, $110.71, $136.32 and $80.03 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 $64.70, $96.32, $107.34, $67.16, $77.36, $76.15, $105.58, $90.04, $65.73, $75.89, $69.05, $71.85, $80.16, $70.74, $69.99, $74.76, $90.20, $112.73 and $70.47 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 $4.23 million, -$4.40 million and -$22.96 million respectively.