Executive Summary

This Report covers market performance for April, 2021. The key market performance highlights are presented here:

CAISO area performance:

  • Peak loads for ISO area increased in the end of this month due to warm weather.
  • Across the integrated-forward market (IFM) and fifteen-minute market (FMM), SDGE prices were elevated in a few days due to transmission congestion.
  • Congestion rents for interties skidded to $0.60 million from $5.45 million in March. Majority of the congestion rents accrued on Malin500 (53 percent) and NOB (37 percent) intertie.
  • In the congestion revenue rights (CRR) market, the balancing account had a surplus of approximately $5.51 million, which was allocated to measured demand.
  • The monthly average prices decreased for all four types of ancillary services this month. There were no scarcity events this month.
  • The bid cost recovery inched up to $5.62 million from $5.10 million in March.
  • The real-time energy offset cost increased to -$2.81 million from -$3.09 million in March. The real-time congestion offset cost edged up to $8.43 million from $8.12 million in March.
  • The volume of exceptional dispatch fell to 68,006 MWh from 85,328 MWh in March. The main reasons for exceptional dispatch were planned transmission outage and reliability assessment.

Energy Imbalance market (EIM) performance:

  • On April 1, 2021, Los Angeles Department of Water and Power (LADWP) and the Public Service Company of New Mexico (PNM) joined the EIM.
  • In the FMM and RTD, NEVP prices were elevated in a few days due to import reduction, upward load bias or renewable deviation.
  • The monthly average prices in FMM for EIM entities (AZPS, BANC, BCHA, IPCO, LADWP, NEVP, PACE, PACW, PGE, PNM, PSEI, SCL, SRP and TIDC) were $22.75, $37.79, $28.86, $28.24, $30.32, $28.96, $25.56, $28.98, $29.79, $24.24, $28.81, $28.93, $24.82 and $38.10 respectively.
  • The monthly average prices in RTD for EIM entities (AZPS, BANC, BCHA, IPCO, LADWP, NEVP, PACE, PACW, PGE, PNM, PSEI, SCL, SRP and TIDC) were $20.46, $33.38, $26.34, $25.35, $26.85, $29.40, $24.71, $26.45, $26.5,4 $20.72, $26.35, $26.36, $24.06 and $33.57 respectively.
  • Bid cost recovery, real-time imbalance energy offset, and real-rime congestion offset costs for EIM entities (AZPS, BANC, BCHA, IPCO, LADWP, NEVP, PACE, PACW, PGE, PNM, PSEI, SCL, SRP and TIDC) were $0.62 million, -$1.79 million and -$2.21 million respectively.