California ISO - Documents By Group

Price inconsistency market enhancements
The ISO is seeking long-term solutions to address price inconsistencies occasionally produced in the ISO market when market solutions result in prices that do not cover the awarded bid prices. These inconsistencies can expose market participants to uneconomical awards and uncertain risks. Through this initiative we seek to: 1) develop enhancements that would reduce or eliminate root causes of price inconsistencies or 2) implement settlement mechanisms to make resources whole to their bid prices.
- Outcome
  In May 2013, the ISO implemented an enhancement to its hour-ahead and real-time markets to minimize price inconsistencies. This change increases market efficiency by ensuring prices are consistent with bid awards. — Implemented: May 01, 2013; FERC approval: Apr 03, 2013; Tariff amendment filing: Feb 19, 2013 (ER13-957); Board of Governors approval: Nov 01, 2012
- Price inconsistency market enhancements - papers and proposals