Executive Summary

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

CAISO area performance:

  • Peak loads for ISO area exceeded 40,000 MW for six days in September driven by hot weather.
  • Across the integrated forward market (IFM), fifteen-minute market (FMM) and real-time dispatch market (RTD), SCE, SDGE and VEA prices were elevated for a few days due to transmission congestion.
  • Congestion rents for interties fell to $16.82 million from $22.12 million in August. Majority of the congestion rents accrued on Malin500 (79 percent) and NOB (14 percent) intertie.
  • In the congestion revenue rights (CRR) market, the balancing account had a surplus of approximately $8.06 million, which was allocated to measured demand.
  • The monthly average prices increased for all four types of ancillary services in September. There were two scarcity events this month.
  • The bid cost recovery declined to $19.86 million from $25.41 million in August.
  • The real-time energy offset cost increased to $7.03 million in September from $0.13 million in August. The real-time congestion offset cost dropped to $6.77 million from $17.43 million in August.
  • The volume of exceptional dispatch skidded to 164,400 MWh from 263,787 MWh in August. The main reasons for exceptional dispatch were ramping capacity, load forecast uncertainty and planned transmission outage.

Energy Imbalance market (EIM) performance:

  • In the FMM and RTD, ELAP prices were elevated for a few days due to upward load adjustment, net import reduction, generation outage and renewable deviation.
  • The monthly average prices in FMM for EIM entities (AZPS, BANC, BCHA, IPCO, LADWP, NEVP, NWMT, PACE, PACW, PGE, PNM, PSEI, SCL, SRP and TIDC) were $57.40, $70.45, $43.78, $56.82, $66.45, $56.01, $66.43, $51.10, $56.01, $56.68, $53.96, $48.02, $49.65, $54.58 and $71.09 respectively.
  • The monthly average prices in RTD for EIM entities (AZPS, BANC, BCHA, IPCO, LADWP, NEVP, NWMT, PACE, PACW, PGE, PNM, PSEI, SCL, SRP and TIDC) were $51.16, $64.21, $42.17, $50.88, $59.17, $49.06, $48.60, $45.49, $49.89, $51.48, $47.24, $42.84, $44.61, $52.37 and $65.14 respectively.
  • Bid cost recovery, real-time imbalance energy offset, and real-rime congestion offset costs for EIM entities (AZPS, BANC, BCHA, IPCO, LADWP, NEVP, NWMT, PACE, PACW, PGE, PNM, PSEI, SCL, SRP and TIDC) were $1.77 million, $1.00 million and -$8.10 million respectively.