The California ISO will be implementing the FERC approved increased to Capacity Procurement Mechanism (CPM) soft offer cap. The effective date for this change will be June 1, 2024.
As a courtesy reminder, this ISO tariff-driven increase will change the CPM soft offer cap from $6.31/kw-month to the new value of $7.34/kw-month. Please note that Resource Adequacy Availability Incentive Mechanism (RAAIM) prices are 60% of the CPM soft offer cap and this associated change will also be in effect starting June 1, 2024.
More information on the open stakeholder process outlining this change can be found on the associated initiative page, and are outlined specifically in the Final Proposal - Capacity Procurement Mechanism Track 2 Final Proposal. |
