Executive Summary
The purpose of this report is to provide market participants a monthly summary of day-ahead and real-time markets performance for August, 2026. The key market performance highlights are presented here:
CAISO area performance:
Peak loads for the ISO area increased in August compared to the previous month.
The cumulative frequency of prices in Fifteen-Minute Market (FMM) above $250/MWh increased from 0.13 percent in July 2026 to 0.38 percent in August 2026, while the cumulative frequency of negative prices decreased from 1.17 percent in July 2026 to 0.39 percent in August 2026. Average FMM Default Load Aggregation Point (DLAP) prices across PGAE, SCE, SDGE, and VEA increased relative to the previous month.
The cumulative frequency of prices in Real-Time Dispatch (RTD) above $250/MWh increased from 0.32 percent in July 2026 to 0.61 percent in August 2026, while the cumulative frequency of negative prices decreased from 1.17 percent in July 2026 to 0.42 percent in August 2026. Average RTD DLAP prices across PGAE, SCE, SDGE, and VEA increased relative to the previous month.
The cumulative total congestion rent for interties increased from $0.76 million in July 2026 to $1.45 million in August 2026. The majority of the congestion rents in August accrued on PINALCENT500_ITC (38.3%) and NOB_ITC (31.9%). Congestion rent on PINALCENT500_ITC increased from $0 in July 2026 to $553,966 in August 2026, while congestion rent on NOB_ITC increased from $51,315 in July 2026 to $461,578 in August 2026.
The Congestion Revenue Rights (CRR) net monthly balancing surplus in August was $20,358,558. The auction revenues credited to the balancing account for August were $5,563,395. As a result, the balancing account had a surplus of approximately $25.922 million compared to $21.958 million in the previous month, which was allocated to measured demand.
In August, the monthly Integrated Forward Market (IFM) average procurement decreased for regulation down and spinning reserves, while increasing for regulation up and non-spinning reserves compared to the previous month. The monthly IFM average prices increased for regulation up, spinning reserves, and non-spinning reserves, while decreasing for regulation down compared to the previous month.
The total Bid Cost Recovery (BCR) decreased from $8.97 million in July 2026 to $8.52 million in August 2026. Out of the total monthly bid cost recovery payment in August, the Integrated Forward Market (IFM) market contributed 8.5 percent and Real-Time Market (RTM) contributed 91.5 percent of the total bid cost recovery payment.
Real-Time Imbalance Energy Offset (RTIEO) decreased from -$3.92 million in July 2026 to -$5.16 million in August 2026. Real-Time Congestion Offset (RTCO) decreased from $33.38 million in July 2026 to $29.34 million in August 2026.
The monthly exceptional dispatch uplift payments decreased from $181,931 in July 2026 to -$21,617 in August 2026.
The number of market disruptions decreased from 291 in July 2026 to 26 in August 2026. On August 3, there were 4 (0 FMM, 0 Hour-Ahead Scheduling Process (HASP), 4 RTD) disruptions.
The total volume of exceptional dispatch decreased from 114,985 MWh in July 2026 to 45,706 MWh in August 2026.
The curtailment of renewable energy decreased in August 2026 compared to the previous month. Most curtailments continued to be solar.
Flexible ramping up uncertainty payment increased from $411,618 in July 2026 to $790,037 in August 2026. Flexible ramping down uncertainty payment decreased from $199,173 in July 2026 to $132,865 in August 2026.
Western Energy Imbalance Market (WEIM) performance:
Total WEIM RTIEO increased from $6.65 million in July 2026 to $11.24 million in August 2026. Total WEIM RTCO decreased from $4.01 million in July 2026 to -$0.04 million in August 2026.
The cumulative frequency of FMM Energy Imbalance Market Load Aggregation Point (ELAP) prices above $250/MWh increased from 0.20 percent in July 2026 to 0.37 percent in August 2026. The cumulative frequency of negative FMM ELAP prices decreased from 2.07 percent in July 2026 to 1.32 percent in August 2026.
The cumulative frequency of RTD ELAP prices above $250/MWh increased from 0.37 percent in July 2026 to 0.42 percent in August 2026. The cumulative frequency of negative RTD ELAP prices decreased from 2.13 percent in July 2026 to 1.31 percent in August 2026.
Total WEIM BCR decreased from $2.74 million in July 2026 to $2.57 million in August 2026.
Total flexible ramping up uncertainty payment increased from $1.11 million in July 2026 to $1.97 million in August 2026.
Total flexible ramping down uncertainty payment decreased from $491,683 in July 2026 to $294,392 in August 2026.
Total forecast payment increased from -$382,144 in July 2026 to -$66,338 in August 2026.
| Month | WEIM | FMM ELAP Prices | RTD ELAP Prices | Price Difference |
|---|---|---|---|---|
| 2026-08 | AVA | $41.26 | $43.50 | -$2.24 |
| 2026-08 | AVRN | $41.64 | $43.19 | -$1.54 |
| 2026-08 | AZPS | $47.34 | $52.70 | -$5.36 |
| 2026-08 | BANC | $48.54 | $49.17 | -$0.64 |
| 2026-08 | BCHA | $16.72 | $14.83 | $1.89 |
| 2026-08 | BHBA | $43.57 | $47.27 | -$3.70 |
| 2026-08 | BPAT | $44.84 | $44.47 | $0.37 |
| 2026-08 | EPE | $53.93 | $57.23 | -$3.30 |
| 2026-08 | GWA | $36.29 | $40.37 | -$4.08 |
| 2026-08 | IPCO | $43.10 | $46.28 | -$3.18 |
| 2026-08 | LADWP | $57.01 | $62.77 | -$5.76 |
| 2026-08 | NEVP | $46.58 | $51.70 | -$5.12 |
| 2026-08 | NWMT | $41.86 | $45.70 | -$3.84 |
| 2026-08 | PACE | $44.50 | $48.25 | -$3.74 |
| 2026-08 | PACW | $40.82 | $42.42 | -$1.60 |
| 2026-08 | PGE | $42.52 | $43.23 | -$0.72 |
| 2026-08 | PNM | $47.54 | $52.39 | -$4.85 |
| 2026-08 | PSEI | $41.41 | $42.52 | -$1.11 |
| 2026-08 | SCL | $41.38 | $42.55 | -$1.17 |
| 2026-08 | SRP | $47.34 | $52.66 | -$5.32 |
| 2026-08 | TEPC | $45.67 | $50.49 | -$4.81 |
| 2026-08 | TIDC | $49.67 | $50.07 | -$0.40 |
| 2026-08 | TPWR | $41.32 | $42.49 | -$1.17 |
| 2026-08 | WALC | $47.26 | $52.60 | -$5.34 |