Executive Summary

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

CAISO area performance:

  • Peak loads for ISO area declined this month compared with last December due to cold weather.
  • Across the integrated forward market (IFM), fifteen-minute market (FMM), and real-time market (RTD), SDGE prices were elevated for a few days due to transmission congestion.
  • Congestion rents for interties increased to $5.72 million from $4.57 million in December. Majority of the congestion rents accrued on Malin500 (75 percent) and NOB (24 percent) intertie.
  • In the congestion revenue rights (CRR) market, the balancing account for January had a surplus of approximately $6.08 million, which was allocated to measured demand.
  • The monthly average prices decreased for regulation down, spinning and non-spinning reserves. There were 26 real-time scarcity events this month.
  • The bid cost recovery slipped to $7.07 million from $8.66 million in December.
  • The real-time energy offset cost dropped to $1.76 million from $6.32 million in December. The real-time congestion offset skidded to $1.47 million from $12.49 million in December.
  • The volume of exceptional dispatch fell to 58,726 MWh from 89,085 MWh in December. The main reasons for exceptional dispatch were planned transmission outage, reliability assessment, and voltage support.

Energy Imbalance market (EIM) performance:

  • In the FMM, the price for NEVP was elevated on January 12 due to import reduction and tight internal supply.
  • The monthly average prices in FMM for EIM entities (AZPS, BANCSMUD, BCHA, IPCO, NEVP, PACE, PACW, PGE, PSEI, SCL and SRP) were $22.60, $32.51, $22.11, $25.56, $25.81, $23.85, $21.56, $22.14, $20.95, $21.12, and $22.97 respectively.
  • The monthly average prices in RTD for EIM entities (AZPS, BANCSMUD, BCHA, IPCO, NEVP, PACE, PACW, PGE, PSEI, SCL and SRP) were $22.60, $32.51, $22.11, $25.56, $25.81, $23.85, $21.56, $22.14, $20.95, $21.12, and $22.97 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 $1.22 million, -$3.27 million and -$1.94 million respectively.