Executive Summary

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

CAISO area performance:

  • Peak loads for ISO area trended downward this month due to cooling weather.
  • Across the integrated forward market (IFM) and fifteen-minute market (FMM) SDGE prices were elevated for a few days due to transmission congestion. In the FMM and real-time market (RTD), PGAE prices were depressed for a few days due to transmission congestion.
  • Congestion rents for interties dropped to $9.22 million from $18.41 million in September. Majority of the congestion rents accrued on NOB (43 percent), Malin500 (24 percent), and Palo Verde (23 percent) intertie.
  • In the congestion revenue rights (CRR) market, the balancing account for October had a surplus of approximately $13.09 million, which was allocated to measured demand.
  • The monthly average ancillary service cost to load slid to $1.07/MWh from $ 1.21/MWh in September. There were 11 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 inched down to $8.87 million from $9.62 million in September.
  • The bid cost recovery slipped to $17.27 million from $18.98 million in September.
  • The real-time energy offset cost fell to $23.43 million from $31.98 million in September. The real-time congestion offset cost skidded to $16.64 million from $31.45 million in September.
  • The volume of exceptional dispatch dropped to 157,267 MWh from 192,791 MWh in September. The main reasons to the monthly volume were planned transmission outage and ramping capacity. The monthly average of total exceptional dispatch volume as a percentage of load percentage was 0.81 percent in October, decreasing from 0.88 percent in September.

Energy Imbalance market (EIM) performance:

  • In the FMM, the prices for AZPS, BANCSMUD, and SRP were elevated on October 14 and 15 due to generation outage, transmission congestion, upward load adjustment, and renewable deviation.
  • The monthly average prices in FMM for EIM entities (AZPS, BANCSMUD, BCHA, IPCO, NEVP, PACE, PACW, PGE, PSEI, SCL and SRP) were $34.72, $42.06, $25.00, $27.20, $36.73, $27.90, $24.86, $24.97, $24.60, $24.78, and $36.27 respectively.
  • The monthly average prices in RTD for EIM entities (AZPS, BANCSMUD, BCHA, IPCO, NEVP, PACE, PACW, PGE, PSEI, SCL and SRP) were $29.92, $36.12, $24.25, $25.43, $30.00, $25.13, $24.11, $24.16, $23.23, $23.49, and $33.88 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 $0.40 million, -$5.68 million and -$6.65 million respectively.