The role of the California ISO 
The electricity industry includes utilities, private power plant owners and state and federal agencies, each playing a distinct role. The ISO is charged with ensuring the safe and reliable transportation of electricity on the power grid. As the impartial grid operator, it has no financial interest in any individual segment ensuring fair and transparent access to the transmission network and market transactions.
ISO market offers:
A full network model that tracks generation and transmission schedules submitted a day in advance to better manage or avoid real-time bottlenecks.
An integrated forward market that provides a one-stop shop for trading and evaluating the electricity bids, transmission capacity and reserves needed to keep the grid in balance.
Locational marginal pricing that creates a transparent system of electric prices based on the cost of generating and delivering it.