Executive Summary
The purpose of this report is to provide market participants a monthly summary of day-ahead and real-time markets performance for April, 2025. The key market performance highlights are presented here:
CAISO area performance:
Peak loads for ISO area continued to be below 30,000 MW throughout this month due to mild weather.
Across the fifteen-minute market (FMM) and real-time dispatch market (RTD), prices for four LSEs were elevated on April 10 for PG&E and SDG&E due to transmission congestion.
The cumulative total congestion rent for interties increased to $1.88 million in April from $1.31 million in the previous month.
In the congestion revenue rights (CRR) market, the balancing account had a surplus of approximately $12.01 million compared to $8.89 million in the previous month, which was allocated to measured demand.
The monthly IFM average procurement increased for for all four types of ancillary services compared to the previous month. The monthly IFM average prices decreased for for all four types of ancillary services compared to previous month.
The total bid cost recovery for April decreased to $11.72 million from $18.80 million in the previous month.
The real-time imbalance energy offset costs decreased to $0.22 million in April from $1.37 million in the previous month. The real-time congestion offset costs in April increased to $16.77 million from $8.10 million in the previous month.
The total volume of exceptional dispatch in April decreased to 78,154 MWh from 192,100 MWh in the previous month. The majority of the exceptional dispatch volume in April was driven by unit testing (37 percent) and planned transmission outage (28 percent).
Western Energy Imbalance Market (WEIM) performance:
In the FMM and RTD, ELAP prices in April decreased for some entities.
The monthly average ELAP prices in FMM and RTD for WEIM entities and the difference between the two (FMM minus RTD) are shown in Table 0.1 below.
Bid cost recovery, real-time imbalance energy offset, and real-time imbalance congestion offset costs for WEIM entities were $1.83 million, $0.34 million and -$9.26 million, respectively.
| Month | WEIM | FMM ELAP Prices | RTD ELAP Prices | Price Difference |
|---|---|---|---|---|
| 2025-04 | AVA | $21.48 | $21.93 | -$0.45 |
| 2025-04 | AVRN | $21.15 | $19.90 | $1.25 |
| 2025-04 | AZPS | $14.94 | $15.85 | -$0.91 |
| 2025-04 | BANC | $24.90 | $26.15 | -$1.25 |
| 2025-04 | BCHA | $27.09 | $27.10 | -$0.01 |
| 2025-04 | BPAT | $21.45 | $21.10 | $0.35 |
| 2025-04 | EPE | $16.58 | $17.17 | -$0.59 |
| 2025-04 | IPCO | $25.50 | $25.24 | $0.25 |
| 2025-04 | LADWP | $21.40 | $21.45 | -$0.04 |
| 2025-04 | NEVP | $18.58 | $21.80 | -$3.22 |
| 2025-04 | NWMT | $20.70 | $21.55 | -$0.85 |
| 2025-04 | PACE | $17.56 | $17.85 | -$0.29 |
| 2025-04 | PACW | $20.27 | $19.03 | $1.24 |
| 2025-04 | PGE | $20.41 | $19.15 | $1.26 |
| 2025-04 | PNM | $14.20 | $15.28 | -$1.08 |
| 2025-04 | PSEI | $23.40 | $22.36 | $1.04 |
| 2025-04 | SCL | $22.18 | $21.13 | $1.05 |
| 2025-04 | SRP | $23.68 | $26.36 | -$2.68 |
| 2025-04 | TEPC | $16.35 | $17.77 | -$1.43 |
| 2025-04 | TIDC | $28.45 | $29.57 | -$1.13 |
| 2025-04 | TPWR | $22.35 | $21.07 | $1.27 |
| 2025-04 | WALC | $15.06 | $15.74 | -$0.68 |