Executive Summary

This Report covers market performance for November, 2020. The key market performance highlights are presented here:

CAISO area performance:

  • Peak loads for ISO area stayed at low levels due to low temperatures.
  • In the real-time market (RTD), all four DLAP LMPs were elevated on November 5 due to renewable deviation, generation outage, and upward load adjustment.
  • Congestion rents for interties declined to $5.18 million from $9.22 million in October. Majority of the congestion rents accrued on Malin500 (84 percent) intertie.
  • In the congestion revenue rights (CRR) market, the balancing account for November had a surplus of approximately $7.92 million, which was allocated to measured demand.
  • The monthly average ancillary service cost to load decreased to $0.89/MWh from 1.07/MWh in October. There were 50 real-time scarcity events this month.
  • The cleared virtual supply was well above the cleared virtual demand in most days of this month. The profits from convergence bidding fell to $3.06 million from $8.87 million in October.
  • The bid cost recovery dropped to $6.98 million from $17.27 million in October.
  • The real-time energy offset cost skidded to $4.04 million in November from $21.91 million in October. The real-time congestion offset cost fell to $6.33 million from $15.39 million in October.
  • The volume of exceptional dispatch decreased to 84,860 MWh from 157,267 MWh in October. The main reasons for exceptional dispatch were planned transmission outage and reliability assessment. The monthly average of total exceptional dispatch volume as a percentage of load percentage was 0.51 percent, declining from 0.81 percent in October.

Energy Imbalance market (EIM) performance:

  • In the FMM, the prices for NEVP were elevated on November 3-5 due to renewable deviation, import reduction, generation outage, transmission congestion and upward load adjustment. In the RTD, the prices for AZPS, BANCSMUD, AZPS, and SRP spiked due to renewable deviation, generation outage, and upward load adjustment.
  • The monthly average prices in FMM for EIM entities (AZPS, BANCSMUD, BCHA, IPCO, NEVP, PACE, PACW, PGE, PSEI, SCL and SRP) were $30.43, $37.86, $25.80, $29.20, $32.75, $25.42, $25.59, $26.93, $24.75, $25.95, and $30.43 respectively.
  • The monthly average prices in RTD for EIM entities (AZPS, BANCSMUD, BCHA, IPCO, NEVP, PACE, PACW, PGE, PSEI, SCL and SRP) were $25.49, $32.96, $24.21, $25.40, $28.35, $21.72, $24.40, $26.82, $23.65, $23.86, and $26.94 respectively.
  • Bid cost recovery, real-time imbalance energy offset, and real-rime congestion offset costs for EIM entities (AZPS, BANCSMUD, BCHA, IPCO, NEVP, PACE, PACW, PGE, PSEI, SCL and SRP) were $0.67 million, -$5.21 million and -$2.48 million respectively.