Section 3 Market Performance Metrics
Day-Ahead Prices
Figure 3.1 shows the daily simple average prices for all hours in IFM for each of the four default load-aggregation points (DLAP): PG&E, SCE, SDG&E, and VEA.
Day-Ahead DLAP prices on average decreased this month compared to the previous month.
TABLE 3.1 below lists the binding constraints that resulted in relatively high or low DLAP prices on certain dates.
Figure 3.1: IFM (Day-Ahead) Simple Average DLAP Prices (All Hours)
| DLAP LMPs Affected | Dates | Transmission Constraint |
|---|---|---|
| SDGE | April 2 | MIGUEL_BKs_MXFLW_NG nomogram; MOSSLD-LASAGUIL-230kV; LOS BANS-LOSBANOS-230 Transformer |
| PGAE | April 14; April 21 | MOSSLD-LASAGUIL-230kV |
| PGAE | April 22 | MIDWAY-VINCENT-500kV; MOSSLD-LASAGUIL-230kV |
Real-Time Price
Figure 3.2 shows daily simple average prices for all four DLAPs (PG&E, SCE, SDG&E, and VEA) for all hours respectively in FMM.
FMM DLAP prices on average decreased this month compared to the previous month except for one day averaging above $50/MWh
TABLE 3.2 below lists the binding constraints that resulted in relatively high or low DLAP prices on certain dates.
Figure 3.2: FMM Simple Average DLAP Prices (All Hours)
| DLAP LMPs Affected | Dates | Transmission Constraint |
|---|---|---|
| PGAE | April 10 | MOSSLD-LASAGUIL-230kV |
| SDGE | April 22 | SUNCREST-SUNCREST 500 Transformer |
| PGAE | April 25 | MIDWAY-VINCENT-500kV |
Figure 3.3 below shows the daily frequency of positive price spikes and negative prices by price range for the DLAPs in the FMM.
The cumulative frequency of prices in FMM above $250/MWh edged down to 0 percent in April, while the cumulative frequency of negative prices rose to 25.01 percent in April from 23.47 percent in the previous month.
Figure 3.3: Daily Frequency of FMM DLAP Positive Price Spikes and Negative Prices
Figure 3.4 shows daily simple average prices for all the DLAPs (PG&E, SCE, SDG&E, and VEA) for all hours respectively in RTD.
RTD DLAP prices on average decreased compared to the previous month. DLAPs for PG&E increased on average in April 25th, 2025. Prices remained volatile compared to the previous month.
TABLE 3.3 below lists the binding constraints that resulted in relatively high or low DLAP prices on certain dates.
Figure 3.4: RTD Simple Average DLAP Prices (All Hours)
| DLAP LMPs Affected | Dates | Transmission Constraint |
|---|---|---|
| PGAE | April 25 | MIDWAY-VINCENT-500kV |
Figure 3.5 below shows the daily frequency of positive price spikes and negative prices by price range for the DLAPs in RTD.
The cumulative frequency of prices in RTD above $250/MWh decrease to to 0.13 percent in April from 0.25 percent in the previous month, while the cumulative frequency of negative prices increased to 25.99 percent in April from 23.24 percent in the previous month.
Figure 3.5: Daily Frequency of RTD DLAP Positive Price Spikes and Negative Prices
