Executive Summary
The purpose of this report is to provide market participants a monthly summary of day-ahead and real-time markets performance for September, 2024. The key market performance highlights are presented here:
CAISO area performance:
Peak loads for ISO area trended downward in September, exceeding 40,000 MW for seven days in early September during the heat wave.
Across the integrated forward market (IFM), fifteen-minute market (FMM) and real-time dispatch market (RTD), prices for SDGE were elevated due to transmission congestion.
The cumulative total congestion rent for interties inched down to $4.11 million in September from $4.60 million in the previous month.
In the congestion revenue rights (CRR) market, the balancing account had a surplus of approximately $9.20 million in September compared to $8.81 million in the previous month, which was allocated to measured demand.
The monthly IFM average procurement increased for spin and decreased for regulation up, regulation down and non-spin reserve compared to the previous month. The monthly IFM average prices rose for all four types of ancillary services compared to the previous month.
The total bid cost recovery for September increased to $13.80 million from $7.00 million in the previous month.
The real-time imbalance energy offset costs decreased to $2.45 million in September from $4.77 million in the previous month. The real-time congestion offset costs in September increased to $9.18 million from $7.54 million in the previous month.
The total volume of exceptional dispatch in September rose to 103,140 MWh from 49,050 MWh in the previous month. The majority of the exceptional dispatch volume in September was driven by planned transmission outage (37.2 percent), load forecast uncertainty (33.2 percent) and voltage support (23.9 percent).
Western Energy Imbalance Market (WEIM) performance:
In the FMM and RTD, ELAP prices were generally quiet this month.
The monthly average ELAP prices in FMM and RTD for WEIM entities and the difference between the two (FMM minus RTD) are shown in Table 1 below.
Bid cost recovery, real-time imbalance energy offset, and real-time imbalance congestion offset costs for WEIM entities were $1.18 million, $0.34 million and -$9.07 million, respectively.
| Month | WEIM | FMM ELAP Prices | RTD ELAP Prices | Price Difference |
|---|---|---|---|---|
| 2024-09 | AVA | $28.97 | $28.92 | $0.05 |
| 2024-09 | AVRN | $32.54 | $31.43 | $1.10 |
| 2024-09 | AZPS | $26.96 | $26.97 | -$0.01 |
| 2024-09 | BANC | $37.16 | $36.02 | $1.14 |
| 2024-09 | BCHA | $33.48 | $32.97 | $0.51 |
| 2024-09 | BPAT | $33.19 | $31.87 | $1.32 |
| 2024-09 | EPE | $25.83 | $25.67 | $0.16 |
| 2024-09 | IPCO | $28.30 | $28.22 | $0.08 |
| 2024-09 | LADWP | $34.67 | $34.54 | $0.13 |
| 2024-09 | NEVP | $27.57 | $27.60 | -$0.03 |
| 2024-09 | NWMT | $28.66 | $30.28 | -$1.63 |
| 2024-09 | PACE | $27.15 | $26.88 | $0.27 |
| 2024-09 | PACW | $31.57 | $30.60 | $0.97 |
| 2024-09 | PGE | $31.59 | $30.53 | $1.06 |
| 2024-09 | PNM | $27.59 | $28.00 | -$0.41 |
| 2024-09 | PSEI | $31.76 | $30.89 | $0.87 |
| 2024-09 | SCL | $32.28 | $31.26 | $1.02 |
| 2024-09 | SRP | $28.45 | $29.14 | -$0.69 |
| 2024-09 | TEPC | $26.44 | $26.99 | -$0.55 |
| 2024-09 | TIDC | $38.94 | $37.65 | $1.29 |
| 2024-09 | TPWR | $31.76 | $30.89 | $0.86 |
| 2024-09 | WALC | $26.92 | $26.93 | -$0.01 |