Executive Summary

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

CAISO area performance:

  • Peak loads for ISO area remained low due to low temperatures.
  • Across the integrated forward market (IFM), fifteen-minute market (FMM), and real-time market (RTD), all four DALP prices were elevated for a couple of days due to high gas prices.
  • Congestion rents for interties rose to $10.87 million from $5.72 million in January. Majority of the congestion rents accrued on Malin500 (53 percent) and NOB (45 percent) intertie.
  • In the congestion revenue rights (CRR) market, the balancing account had a surplus of approximately $24.64 million, which was allocated to measured demand.
  • The monthly average prices increased for all four types of ancillary services this month. There were four real-time scarcity events this month.
  • The bid cost recovery esclated to $22.56 million from $7.07 million in January.
  • The real-time energy offset cost rose to $20.48 million from $1.76 million in January. The real-time congestion offset cost increased to $26.27 million from $1.70 million in January.
  • The volume of exceptional dispatch increased to 91,794 MWh from 58,726 MWh in January. The main reasons for exceptional dispatch were planned transmission outage, reliability assessment, and voltage support.

Energy Imbalance market (EIM) performance:

  • In the FMM and RTD, the ELAP prices were elevated for a few days due to high gas prices.
  • The monthly average prices in FMM for EIM entities (AZPS, BANCSMUD, BCHA, IPCO, NEVP, PACE, PACW, PGE, PSEI, SCL and SRP) were $63.22, $48.46, $35.19, $51.44, $63.09, $52.31, $34.25, $34.38, $33.95, $34.47, and $65.65 respectively.
  • The monthly average prices in RTD for EIM entities (AZPS, BANCSMUD, BCHA, IPCO, NEVP, PACE, PACW, PGE, PSEI, SCL and SRP) were $52.48, $39.58, $33.32, $40.07, $47.49, $40.32, $32.65, $32.49, $32.19, $32.96, and $57.99 respectively.
  • Bid cost recovery, real-time imbalance energy offset, and real-rime congestion offset costs for EIM entities (AZPS, BANCSMUD, BCHA, IPCO, NEVP, PACE, PACW, PGE, PSEI, SCL and SRP) were $0.86 million, -$1.35 million and -$7.55 million respectively.