Executive Summary

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

CAISO area performance:

  • Peak loads for ISO area generally increased this month compared with April due to warmer temperatures.
  • Across the integrated-forward market (IFM), fifteen-minute market (FMM) and real-time dispatch market (RTD), PGAE prices were elevated in a few days due to transmission congestion.
  • Congestion rents for interties rose to $5.29 million from $0.60 million in April. Majority of the congestion rents accrued on Malin500 (83 percent) and NOB (15 percent) intertie.
  • In the congestion revenue rights (CRR) market, the balancing account had a surplus of approximately $9.34 million, which was allocated to measured demand.
  • The monthly average prices increased for regulation down, spin and non-spin reserve. There were no scarcity events this month.
  • The bid cost recovery edged up to $5.88 million from $5.62 million in April.
  • The real-time energy offset cost decreased to -$3.80 million from -$2.81 million in April. The real-time congestion offset cost rose to $9.89 million from $8.43 million in April.
  • The volume of exceptional dispatch declined to 58,005 MWh from 68,006 MWh in April. The main reasons for exceptional dispatch were planned transmission outage and reliability assessment.

Energy Imbalance market (EIM) performance:

  • In the FMM and RTD, NEVP prices were elevated in a few days due to net import reduction, upward load adjustment or generation outage.
  • The monthly average prices in FMM for EIM entities (AZPS, BANC, BCHA, IPCO, LADWP, NEVP, PACE, PACW, PGE, PNM, PSEI, SCL, SRP and TIDC) were $23.83, $38.69, $27.07, $25.53, $29.09, $27.25, $23.81, $28.84, $28.24, $22.72, $28.77, $27.86, $24.17, and $40.71 respectively.
  • The monthly average prices in RTD for EIM entities (AZPS, BANC, BCHA, IPCO, LADWP, NEVP, PACE, PACW, PGE, PNM, PSEI, SCL, SRP and TIDC) were $22.21, $33.67, $24.27, $22.84, $25.49, $26.93, $24.21, $25.91, $24.93, $20.08, $27.79, $25.00, $25.64, and $35.11 respectively.
  • Bid cost recovery, real-time imbalance energy offset, and real-rime congestion offset costs for EIM entities (AZPS, BANC, BCHA, IPCO, LADWP, NEVP, PACE, PACW, PGE, PNM, PSEI, SCL, SRP and TIDC) were $0.85 million, -$4.62 million and -$3.71 million respectively.