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 increased compared to the previous month, correlated with rising natural gas prices including a spike in gas prices at SoCal Citygate at the end of the month.
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 |
|---|---|---|
| PGAE | July 4-9 | LOSBANOS-GATES1-500kV line |
| SCE; SDGE; VEA | July 11-14 | SUNCREST-SUNCREST-230 XFMR; MIDWAY-WIRLWIND-500kV line; MIDWAY-VINCENT-500kV line |
| VEA | July 15 | IMB-HR J-METCALF-115kV line |
| SCE; SDGE; VEA | July 16-31 | MIDWAY-VINCENT-500kV line; MIDWAY-WIRLWIND-500kV line; 6410_CP1_NG nomogram |
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 increased compared to the previous month, correlated with rising natural gas prices including a spike in gas prices at SoCal Citygate at the end of the month.
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 |
|---|---|---|
| PGAE | July 2-8 | LOSBANOS-GATES1-500kV line; AEOLUS_EXP bus |
| SCE; SDGE; VEA | July 10 | MIDWAY-WIRLWIND-500kV line |
| SCE; SDGE; VEA | July 17-31 | ANTELOPE-WIRLWIND-500kV line; MIDWAY-VINCENT-500kV line; 6410_CP1_NG nomogram; MIDWAY-WIRLWIND-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 FMM prices above $250/MWh increased to 1.62 percent in July from 0.00 percent in the previous month, while the cumulative frequency of negative prices decreased to 0.02 percent in July from 6.74 percent in the previous month, correlated with the decrease in renewable 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 increased compared to the previous month, correlated with rising natural gas prices.
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 | Dates | Transmission Constraint |
|---|---|---|
| PGAE | July 2; 4; 6-8 | LOSBANOS-GATES1-500kV line |
| SCE; SDGE; VEA | July 10 | MIDWAY-WIRLWIND-500kV line |
| SCE; SDGE; VEA | July 18 | ANTELOPE-WIRLWIND-500kV line |
| SCE; SDGE; VEA | July 20 | 6410_CP1_NG nomogram |
| SCE; SDGE; VEA | July 22-31 | MIDWAY-WIRLWIND-500kV line; 6410_CP1_NG nomogram; MIDWAY-VINCENT-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 RTD prices above $250/MWh increased to 0.67 percent in July from 0.09 percent in the previous month, while the cumulative frequency of negative prices decreased to 0.56 percent in July from 10.01 percent in the previous month, correlated with the decrease in renewable generation curtailment.
Figure 6: Daily Frequency of RTD DLAP Positive Price Spikes and Negative Prices
