3 Market Performance Metrics
Day-Ahead Prices
Figure 2 show the daily simple average load-aggregation points (LAP) prices for each of the four default LAPs (PG&E, SCE, SDG&E, and VEA) for all hours. TABLE 2 below lists the binding constraints along with the associated DLAP locations and the dates when the binding constraints resulted in relatively high or low DLAP prices.
Figure 2: Day-Ahead Simple Average LAP Prices (All Hours)
| DLAP | Dates | Transmission Constraint |
|---|---|---|
| PGAE | May 15-22 | LOSBANOS-GATES1 500 kV line, GATES1-MIDWAY 500 kV line, PANOCHE-GATES #1 230 kV line, PANOCHE-GATES #2 230 kV line |
Real-Time Price
Figure 3 show daily simple average LAP prices for all the default LAPs (PG&E, SCE, SDG&E, and VEA) for all hours respectively in FMM. TABLE 3 lists the binding constraints along with the associated DLAP locations and the dates when the binding constraints resulted in relatively high or low DLAP prices. On May 5, all four DLAP LMPs were elevated due to upward load forecast adjustment and renewable deviation.
Figure 3: FMM Simple Average LAP Prices (All Hours)
| DLAP | Dates | Transmission Constraint |
|---|---|---|
| PGAE | May 5 | MALIN-ROUND MT 500 kV line, Q0577SS-LOSBANOS 230 kV line |
Figure 4 below shows the daily frequency of positive price spikes and negative prices by price range for the default LAPs in the FMM. The cumulative frequency of prices above $250/MWh increased to 0.36 percent in May from 0.01 percent in April The cumulative frequency of negative prices decreased to 6.79 percent in May from 2.24 percent in April.
Figure 4: Daily Frequency of FMM LAP Positive Price Spikes and Negative Prices
Figure 5 show daily simple average LAP prices for all the default LAPs (PG&E, SCE, SDG&E, and VEA) for all hours respectively in RTD. TABLE 4 lists the binding constraints along with the associated DLAP locations and the dates when the binding constraints resulted in relatively high or low DLAP prices.
Figure 5: RTD Simple Average LAP Prices (All Hours)
| DLAP | Dates | Transmission Constraint |
|---|---|---|
| PGAE | May 21 | GATES-MIDWAY 230 kV line |
| PGAE | May 31 | Q0577SS-LOSBANOS 230 kV line, 7430_CP6_NG |
Figure 4 below shows the daily frequency of positive price spikes and negative prices by price range for the default LAPs in RTD. The cumulative frequency of prices above $250/MWh edged up to 0.05 percent in May from 0.02 percent in April. The cumulative frequency of negative prices increased to 8.44 percent in May from 4.19 percent in April.
Figure 6: Daily Frequency of RTD LAP Positive Price Spikes and Negative Prices
