Executive Summary
The purpose of this report is to provide market participants a monthly summary of day-ahead and real-time markets performance for June, 2026. The key market performance highlights are presented here:
CAISO area performance:
Peak loads for the ISO area increased in June compared to the previous month.
The cumulative frequency of prices in Fifteen-Minute Market (FMM) above $250/MWh decreased from 0.06 percent in May 2026 to 0.00 percent in June 2026, while the cumulative frequency of negative prices decreased from 31.33 percent in May 2026 to 13.66 percent in June 2026. Average FMM Default Load Aggregation Point (DLAP) prices across PGAE, SCE, SDGE, and VEA increased relative to the previous month.
The cumulative frequency of prices in Real-Time Dispatch (RTD) above $250/MWh decreased from 0.11 percent in May 2026 to 0.01 percent in June 2026, while the cumulative frequency of negative prices decreased from 32.11 percent in May 2026 to 14.93 percent in June 2026. Average RTD DLAP prices across PGAE, SCE, SDGE, and VEA increased relative to the previous month.
The cumulative total congestion rent for interties increased from $2.39 million in May 2026 to $3.70 million in June 2026. The majority of the congestion rents in June accrued on MALIN500_ISL (53.3%) and NOB_ITC (41.4%). Congestion rent on MALIN500_ISL increased from $596,180 in May 2026 to $1,971,990 in June 2026, while congestion rent on NOB_ITC increased from $891,270 in May 2026 to $1,531,958 in June 2026.
The Congestion Revenue Rights (CRR) net monthly balancing surplus in June was $14,359,139. The auction revenues credited to the balancing account for June were $5,313,688. As a result, the balancing account had a surplus of approximately $19.673 million compared to $18.904 million in the previous month, which was allocated to measured demand.
In June, the monthly Integrated Forward Market (IFM) average procurement decreased for regulation up, regulation down, and non-spinning reserves, while increasing for spinning reserves compared to the previous month. The monthly IFM average prices decreased for all ancillary service products compared to the previous month.
The total Bid Cost Recovery (BCR) decreased from $11.87 million in May 2026 to $6.10 million in June 2026. Out of the total monthly bid cost recovery payment in June, the Integrated Forward Market (IFM) market contributed 36.5 percent and Real-Time Market (RTM) contributed 63.5 percent of the total bid cost recovery payment.
Real-Time Imbalance Energy Offset (RTIEO) decreased from $4.14 million in May 2026 to -$3.42 million in June 2026. Real-Time Congestion Offset (RTCO) increased from $18.68 million in May 2026 to $28.14 million in June 2026.
The monthly exceptional dispatch uplift payments decreased from $5,777,890 in May 2026 to $110,520 in June 2026.
The number of market disruptions increased from 44 in May 2026 to 78 in June 2026. On June 11, there were 20 (3 FMM, 2 Hour-Ahead Scheduling Process (HASP), 15 RTD) disruptions.
The total volume of exceptional dispatch decreased from 99,776 MWh in May 2026 to 65,813 MWh in June 2026.
The curtailment of renewable energy decreased in June 2026 compared to the previous month. Most curtailments continued to be solar.
Flexible ramping up uncertainty payment decreased from $87,763 in May 2026 to $49,901 in June 2026. Flexible ramping down uncertainty payment increased from $88,117 in May 2026 to $101,539 in June 2026.
Western Energy Imbalance Market (WEIM) performance:
Total WEIM RTIEO increased from $1.43 million in May 2026 to $1.62 million in June 2026. Total WEIM RTCO decreased from $2.05 million in May 2026 to $1.29 million in June 2026.
The cumulative frequency of FMM Energy Imbalance Market Load Aggregation Point (ELAP) prices above $250/MWh increased from 0.06 percent in May 2026 to 0.25 percent in June 2026. The cumulative frequency of negative FMM ELAP prices decreased from 21.53 percent in May 2026 to 12.03 percent in June 2026.
The cumulative frequency of RTD ELAP prices above $250/MWh increased from 0.10 percent in May 2026 to 0.23 percent in June 2026. The cumulative frequency of negative RTD ELAP prices decreased from 24.44 percent in May 2026 to 14.27 percent in June 2026.
Total WEIM BCR decreased from $2.91 million in May 2026 to $1.15 million in June 2026.
Total flexible ramping up uncertainty payment decreased from $0.38 million in May 2026 to $0.21 million in June 2026.
Total flexible ramping down uncertainty payment increased from $198,463 in May 2026 to $260,391 in June 2026.
Total forecast payment increased from -$1,048,548 in May 2026 to $231,861 in June 2026.
| Month | WEIM | FMM ELAP Prices | RTD ELAP Prices | Price Difference |
|---|---|---|---|---|
| 2026-06 | AVA | $14.71 | $14.72 | -$0.01 |
| 2026-06 | AVRN | $14.88 | $14.30 | $0.58 |
| 2026-06 | AZPS | $15.05 | $15.92 | -$0.86 |
| 2026-06 | BANC | $21.59 | $21.97 | -$0.37 |
| 2026-06 | BCHA | -$0.80 | $0.83 | -$1.63 |
| 2026-06 | BHBA | $16.38 | $16.94 | -$0.56 |
| 2026-06 | BPAT | $14.50 | $13.64 | $0.86 |
| 2026-06 | EPE | $24.49 | $26.05 | -$1.56 |
| 2026-06 | GWA | $15.02 | $15.12 | -$0.10 |
| 2026-06 | IPCO | $16.18 | $16.36 | -$0.18 |
| 2026-06 | LADWP | $19.08 | $19.63 | -$0.55 |
| 2026-06 | NEVP | $51.55 | $48.70 | $2.86 |
| 2026-06 | NWMT | $14.69 | $14.48 | $0.21 |
| 2026-06 | PACE | $16.61 | $16.98 | -$0.37 |
| 2026-06 | PACW | $13.82 | $13.37 | $0.44 |
| 2026-06 | PGE | $14.13 | $13.58 | $0.55 |
| 2026-06 | PNM | $15.33 | $15.98 | -$0.65 |
| 2026-06 | PSEI | $13.82 | $13.32 | $0.50 |
| 2026-06 | SCL | $13.84 | $13.99 | -$0.16 |
| 2026-06 | SRP | $17.74 | $18.58 | -$0.84 |
| 2026-06 | TEPC | $17.06 | $19.86 | -$2.81 |
| 2026-06 | TIDC | $21.53 | $21.89 | -$0.36 |
| 2026-06 | TPWR | $14.80 | $13.50 | $1.30 |
| 2026-06 | WALC | $15.03 | $15.68 | -$0.65 |