Board and Governing Body support continued growth
Gratified by the recent successes achieved by the real-time energy market, the California Independent System Operator’s (ISO) Board of Governors and the Western Energy Imbalance Market (EIM) Governing Body are aligned in their commitment to West-wide issues.
With seven new entities joining the Western EIM this year, the efforts to prepare for this summer, and the continued interest in enhanced regional collaboration, the two governing bodies further strengthened their relationship and alignment around those areas of interest during its joint executive meeting in March.
“We are committed to strong collaboration with our regional partners which is the best path forward to achieving reliable system operations in a world of extreme weather and an evolving resource mix,” said Angelina Galiteva, chair of the ISO Board of Governors.
“The hard work and collaboration that has occurred since the heat events of last summer demonstrate that the industry, as a whole, is facing common reliability challenges and can all benefit from solving them together,” added John Prescott, chair of the Western EIM’s Governing Body.
This year, the Western EIM’s footprint will expand to include New Mexico and Montana. By 2023, the real-time energy market’s 22 participants will represent more than 83 percent of the Western Electricity Coordinating Council’s (WECC) total load.
The success of the West’s real-time energy market is due in large part to the Board of Governors’ and the Western EIM Governing Body’s commitment to transparency, and the valuable stakeholder engagement embedded in the ISO’s public processes.
For more information about the West’s first real-time energy market, visit the Western EIM website.
More utilities join the real-time energy market
Six utilities joined the West’s real-time energy market making this one of the largest expansions of the Western EIM since its launch in 2014.
The Turlock Irrigation District and the Balancing Authority of Northern California (BANC) Phase 2, which is comprised of the Modesto Irrigation District, the City of Redding, and the City of Roseville, began participating in late March.
In early April, the Los Angeles Department of Water and Power (LADWP) and Public Service Company of New Mexico joined the Western EIM. Public Service Company of New Mexico’s participation extends the Western EIM’s footprint to its ninth state in the West.
The Western EIM will expand to Montana with the addition of NorthWestern Energy in June. By 2023, the Western EIM’s participants will represent more than 83 percent of the load within the Western Electricity Coordinating Council’s (WECC) area.
For more information about the real-time energy market, quarterly benefits, governance, initiatives, and upcoming meetings visit the Western EIM website.
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The ISO adopts a package of summer reliability measures
The Board of Governors approved a suite of enhancements in March to help ensure efficient market operations and grid reliability in preparation for this summer’s hot weather.
The enhancements, shaped by stakeholder input, are on track to be in place this summer.
Policy changes approved by the Board are designed to:
- Strengthen compensation incentives for hourly imports to deliver during tight supply conditions;
- Provide more accurate price signals reflective of tight supply conditions and dispatch of emergency demand response;
- Establish an interim minimum state of charge requirement to ensure resource adequacy storage resources have sufficient energy available on the tightest supply days;
- Ensure sufficient capacity is procured in advance of planned outages; and
- Streamline the grid interconnection process to expedite new supply.
Read the news release here.