The California ISO has posted a Final Proposal on Rules for Bidding above the Soft Offer Cap to the Price Formation Enhancements (PFE) Initiative webpage.
After further consideration of the Market Surveillance Committee opinion and additional stakeholder feedback, Management agrees that it is prudent to focus the proposal to modify the bid cap for energy storage resources to the real time market, which is where the risk arises for pre-mature depletion of state of charge.
Note that the memo to the ISO Board of Governors and Western Energy Imbalance Market (WEIM) Governing Body, posted yesterday May 16, also includes this recommendation. This represents a modification from the Draft Final Proposal to apply this only to the real-time market and not also the day-ahead market.
We appreciate your engagement in the PFE working groups.
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