Back to Previous Page

Market Analysis Monthly Report

pdf 313K

Summary:

Market Analysis Report for May 2004 (Memorandum), Board of Governors Meeting, June 24, 2004

Extract:

A heat wave in Southern California that began in April peaked on May 3. Temperatures exceeded 100 degrees, causing the system-wide peak load to reach 40,484 megawatts, a level typically not reached until midsummer. While new generation has been sited in California, Mexico, and the Southwest, there is not sufficient transmission available to transport that generation to the load, especially load in the greater Los Angeles area. Due to these conditions the South of Lugo transmission line overloaded on the afternoon of May 3, between 3:00 and 6:00 p.m., requiring ISO operators to redispatch the system in real time to alleviate the congestion. As a result real-time incremental dispatch volume reached 1,800 MW, and the price of incremental balancing energy spiked to $185 per megawatt-hour (MWh).

Document Locations:

• Market Monitoring - 2004 Reports and Presentations