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 this month compared to June. All four DLAP LMPs increased on July 10 and 11 due to high demand.

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)

IFM (Day-Ahead) Simple Average DLAP Prices (All Hours)
Table 3: Day-Ahead Transmission Constraint
DLAP LMPs Affected Dates Transmission Constraint
PGAE July 3-5, 12, 23-25 RIO OSO-RIO OSO-115 kV XFMR

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. All four DLAP LMPs spiked on July 23 and 24 due to high demand, transmission congestion and tight supply during the the heat wave.

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)

FMM Simple Average DLAP Prices (All Hours)
Table 4: FMM Transmission Constraint
DLAP LMPs Affected Dates Transmission Constraint
PGAE July 2-3 COTTNWD-ROUND MT-230kV line; VASONA-METCALF-230kV line
PGAE July 5 TULUCAY-VACA DIX-230kV line; VASONA-METCALF-230kV line
PGAE July 6 MOSSLD-LASAGUIL-230kV line; VASONA-METCALF-230kV line
PGAE July 10-12 7430_CP6_NG nomogram

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 increased to 1.67 percent in July from 0.03 percent in the previous month, while the cumulative frequency of negative prices dropped to 0.72 percent in July from 13.10 percent in the previous month.

Figure 4: Daily Frequency of FMM DLAP Positive Price Spikes and Negative Prices

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 increased in July compared to the previous month. All four DLAP LMPs spiked on July 23 and 24 due to high demand, transmission congestion and tight supply during the the heat wave.

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)

RTD Simple Average DLAP Prices (All Hours)
Table 5: RTD Transmission Constraint
DLAP LMPs Affected Dates Transmission Constraint
PGAE July 2 COTTNWD-ROUND MT-230kV line; MUSTANGS-GATES-230kV line
PGAE July 3 COTTNWD-ROUND MT-230kV line; VASONA-METCALF-230kV line
PGAE July 11-12 7430_CP6_NG nomogram

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 inched up to 0.39 percent in July from 0.02 percent in the previous month, while the cumulative frequency of negative prices fell to 1.03 percent in July from 14.13 percent in the previous month.

Figure 6: Daily Frequency of RTD DLAP Positive Price Spikes and Negative Prices

Daily Frequency of RTD DLAP Positive Price Spikes and Negative Prices