Executive Summary

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

CAISO area performance:

  • Peak loads for ISO area exceeded 40,000 MW for two days during the heat wave in the middle of June.
  • Across the integrated-forward market (IFM), fifteen-minute market (FMM) and real-time dispatch market (RTD), SCE, SDGE and VEA prices were elevated int he middle of this month due to transmission congestion.
  • Congestion rents for interties rose to $6.49 million from $5.29 million in May. Majority of the congestion rents accrued on Malin500 (80 percent) and NOB (14 percent) intertie.
  • In the congestion revenue rights (CRR) market, the balancing account had a surplus of approximately $6.53 million, which was allocated to measured demand.
  • The monthly average prices increased for regulation up, spin and non-spin reserve. There was one scarcity event this month.
  • The bid cost recovery increased to $13.81 million from $5.88 million in May.
  • The real-time energy offset cost increased to -$2.03 million from -$3.80 million in May. The real-time congestion offset cost rose to $15.86 million from $9.89 million in May.
  • The volume of exceptional dispatch increased to 188,199 MWh from 147,080 MWh in May. The main reasons for exceptional dispatch were unit testing, ramping capacity and load forecast uncertainty.

Energy Imbalance market (EIM) performance:

  • In the FMM and RTD, NEVP prices were elevated in a the beginning of June due to net import reduction.
  • The monthly average prices in FMM for EIM entities (AZPS, BANC, BCHA, IPCO, LADWP, NEVP, NWMT, PACE, PACW, PGE, PNM, PSEI, SCL, SRP and TIDC) were $36.62, $44.44, $29.09, $35.73, $41.82, $40.73, $33.46, $34.45, $29.96, $30.60, $34.27, $29.95, $28.87, $40.67 and $44.88 respectively.
  • The monthly average prices in RTD for EIM entities (AZPS, BANC, BCHA, IPCO, LADWP, NEVP, NWMT, PACE, PACW, PGE, PNM, PSEI, SCL, SRP and TIDC) were $37.14, $41.32, $27.71, $34.22, $39.62, $46.67, $30.87, $33.37, $29.40, $29.86, $33.21, $34.46, $28.34, $41.42 and $41.81 respectively.
  • Bid cost recovery, real-time imbalance energy offset, and real-rime congestion offset costs for EIM entities (AZPS, BANC, BCHA, IPCO, LADWP, NEVP, NWMT, PACE, PACW, PGE, PNM, PSEI, SCL, SRP and TIDC) were $3.31 million, -$1.03 million and -$3.59 million respectively.