The California ISO Department of Market Monitoring has scheduled a stakeholder web conference on March 5, 2020, to discuss the analysis and findings of its fourth quarter 2019 Market Issues and Performance Report, which is available on the ISO website at http://www.caiso.com/Documents/2019FourthQuarterReportonMarketIssuesandPerformance.pdf.

The fourth quarter 2019 Market Issues and Performance Report includes coverage of market performance in both the day-ahead and energy imbalance market. Market prices were higher than Q3, but remain highly competitive in Q4 due to a combination of favorable market and system conditions, including low and stable gas prices and relatively high hydroelectric supplies. The total estimated wholesale cost of serving ISO load in the fourth quarter of 2019 was about $2.3 billion or about $44/MWh, an 18 percent decrease compared to Q4 2018. Real-time imbalance offset costs totaled about $50 million, over 2 percent of wholesale costs for the quarter, driven by congestion offset costs associated with transmission constraint reductions between the day-ahead and real-time market. The Q4 congestion revenue rights auction revenues were $22.1 million less than payments made to non-load-serving entities purchasing these rights. For the year, ratepayer losses from sales of congestion revenue rights totaled about $34 million, down from $131 million in 2018. The reduction in losses was driven by a combination of the changes implemented by the ISO in 2019, along with a significant drop in day-ahead market congestion. The report also includes special issue coverage of system market power, gas burn constraints and the implementation of two initiatives: energy storage and distributed energy resources phase 3 and local market power mitigation enhancements.

Information related to market monitoring is available at http://www.caiso.com/market/Pages/MarketMonitoring/Default.aspx.

Meeting Details

Date: March 5, 2020

Time: 1 p.m. - 2 p.m. Pacific Time

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Participation information

Step 1: call 1-877-369-5230, access code: 4392136##

Step 2: https://ems8.intellor.com/login/820799

Technical support: call the AT&T Help Desk at 1-888-796-6118