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. All four DLAP LMPs were generally high in the end of November driven by high natural gas prices.
Figure 2: Day-Ahead Simple Average LAP Prices (All Hours)
| DLAP | Dates | Transmission Constraint |
|---|---|---|
| PGAE | November 15-16, 25 | LOSBANOS-GATES1-500 kV line, PANOCHE-GATES 230 kV line |
| PGAE | November 28 | PANOCHE-GATES 230 kV line |
| PGAE | November 29-30 | Q0577SS-LOSBANOS 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. All four DLAP LMPs spiked in the end of November due to high natural gas prices.
Figure 3: FMM Simple Average LAP Prices (All Hours)
| DLAP | Dates | Transmission Constraint |
|---|---|---|
| PGAE | November 29-30 | 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 edged up to 0.32 percent in November from 0.22 percent in October. The cumulative frequency of negative prices decreased to 0.46 percent in November from 0.58 percent in October.
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. On November 3, all four DLAP LMPs were elevated due to upward load adjustment and renewable deviation. In the end of this month, all four DLAP LMPs spiked due to high natural gas prices.
Figure 5: RTD Simple Average LAP Prices (All Hours)
| DLAP | Dates | Transmission Constraint |
|---|---|---|
| PGAE | November 29-30 | 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 RTD. The cumulative frequency of prices above $250/MWh stayed at 0.25 percent in November with no change from October. The cumulative frequency of negative prices fell to 1.04 percent in November from 1.36 percent in October.
Figure 6: Daily Frequency of RTD LAP Positive Price Spikes and Negative Prices
