3 Market Performance Metrics
Day-Ahead Prices
Figure 2 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 compared to the previous month, correlated with falling natural gas prices. Prices were less volatile compared to the previous month. Prices were lower than the same month in the previous year.
TABLE 3 below lists the binding constraints that resulted in relatively high or low DLAP prices on certain dates.
Figure 2: IFM (Day-Ahead) Simple Average DLAP Prices (All Hours)
| DLAP LMPs Affected | Dates | Transmission Constraint |
|---|---|---|
| SDGE | February 1 | OMS_14831000_IV-SX Outage_NG nomogram |
| All | February 5 | 7820_TL23040_IV_SPS_NG nomogram; GATES1-GATES-500 XFMR |
| PGAE | February 7-8 | GATES1-GATES-500 XFMR; GATES1-MIDWAY-500kV line |
| All | February 9 | GATES1-GATES-500 XFMR; GATES1-MIDWAY-500kV line |
| PGAE | February 10-11 | GATES1-MIDWAY-500kV line; TESLA-LOSBANOS-500kV line |
| All | February 12 | GATES1-MIDWAY-500kV line; TESLA-LOSBANOS-500kV line |
| PGAE | February 13-15 | TESLA-LOSBANOS-500kV line; GATES1-MIDWAY-500kV line |
| All | February 16 | GATES1-MIDWAY-500kV line |
| PGAE | February 17-18 | GATES1-MIDWAY-500kV line |
| All | February 19-20 | ADRA TAP-DAIRYLND-115kV line; LE GRAND-ADRA TAP-115kV line |
| PGAE | February 21-23 | TESLA-LOSBANOS-500kV line; MOSSLD-LASAGUIL-230kV line; GATES1-MIDWAY-500kV line |
| All | February 26 | MOSSLD-LASAGUIL-230kV line |
| PGAE | February 27-29 | TESLA-LOSBANOS-500kV line; MOSSLD-LASAGUIL-230kV line |
Real-Time Price
Figure 3 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 compared to the previous month, correlated with falling natural gas prices. Prices were less volatile compared to the previous month. Prices were lower than the same month in the previous year.
TABLE 4 below lists the binding constraints that resulted in relatively high or low DLAP prices on certain dates.
Figure 3: FMM Simple Average DLAP Prices (All Hours)
| DLAP LMPs Affected | Dates | Transmission Constraint |
|---|---|---|
| All | February 1 | 7820_TL 230S_OVERLOAD_NG nomogram |
| PGAE | February 2-4 | GATES1-GATES-500 XFMR; GATES1-MIDWAY-500kV line; PANOCHE-GATES-230kV line |
| All | February 5-6 | GATES1-GATES-500 XFMR |
| PGAE | February 7-9 | GATES1-MIDWAY-500kV line; GATES1-GATES-500 XFMR; TESLA-LOSBANOS-500kV line |
| All | February 10 | MOSSLD-LASAGUIL-230kV line; TESLA-LOSBANOS-500kV line |
| PGAE | February 11-15 | TESLA-LOSBANOS-500kV line; MOSSLD-LASAGUIL-230kV line; GATES1-MIDWAY-500kV line |
| SDGE | February 16 | GATES1-MIDWAY-500kV line; SUNCREST-SUNCREST-230 XFMR |
| PGAE | February 17 | GATES1-MIDWAY-500kV line |
| All | February 20 | MOE-ELD-ELDORDO-500kV line |
| All | February 23 | TESLA-LOSBANOS-500kV line |
| PGAE | February 28-29 | MOSSLD-LASAGUIL-230kV line; TESLA-LOSBANOS-500kV line |
Figure 4 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 decreased to 0 percent in February from 0.83 percent in the previous month, while the cumulative frequency of negative prices increased to 11.97 percent in February from 2.33 percent in the previous month, correlated with an increase in renewable generation curtailment.
Figure 4: Daily Frequency of FMM DLAP Positive Price Spikes and Negative Prices
Figure 5 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, correlated with falling natural gas prices. Prices were less volatile compared to the previous month. Prices were lower than the same month in the previous year.
TABLE 5 below lists the binding constraints that resulted in relatively high or low DLAP prices on certain dates.
Figure 5: RTD Simple Average DLAP Prices (All Hours)
| DLAP LMPs Affected | Dates | Transmission Constraint |
|---|---|---|
| All | February 1 | 7820_TL 230S_OVERLOAD_NG nomogram |
| PGAE | February 2-4 | MOSSLD-LASAGUIL-230kV line; GATES1-MIDWAY-500kV line; PANOCHE-GATES-230kV line; GATES1-GATES-500 XFMR |
| All | February 5-6 | GATES1-GATES-500 XFMR |
| PGAE | February 7-9 | GATES1-MIDWAY-500kV line; LOSBANOS-GATES1-500kV line; GATES1-GATES-500 XFMR; TESLA-LOSBANOS-500kV line |
| All | February 10 | MOSSLD-LASAGUIL-230kV line; TESLA-LOSBANOS-500kV line |
| PGAE | February 11-15 | TESLA-LOSBANOS-500kV line; MOSSLD-LASAGUIL-230kV line; GATES1-MIDWAY-500kV line |
| SDGE | February 16 | GATES1-MIDWAY-500kV line; SUNCREST-SUNCREST-230 XFMR |
| PGAE | February 17 | GATES1-MIDWAY-500kV line |
| All | February 20 | MOE-ELD-ELDORDO-500kV line |
| All | February 23 | TESLA-LOSBANOS-500kV line |
| All | February 26 | LE GRAND-ADRA TAP-115kV line |
| PGAE | February 28-29 | MOSSLD-LASAGUIL-230kV line; TESLA-LOSBANOS-500kV line |
Figure 6 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 decreased to 0.04 percent in February from 0.61 percent in the previous month, while the cumulative frequency of negative prices increased to 13.69 percent in February from 3.31 percent in the previous month, correlated with an increase in renewable generation curtailment.
Figure 6: Daily Frequency of RTD DLAP Positive Price Spikes and Negative Prices
