The recently expanded western Energy Imbalance Market (EIM) provided California a new outlet for its surplus renewable output last quarter, according to California Independent System Operator (CAISO)’s quarterly economic benefits report.
The EIM produced $18.9 million in overall financial benefits for its participants during the first quarter of 2016, up from $12.3 million the previous quarter, the report said.
CAISO attributed the increase to the participation of NV Energy, which joined the real-time market in December 2015. The utility’s addition significantly improved transfer capability between the ISO and the balancing areas belonging to PacifiCorp — the EIM’s first participant — creating a more unified footprint.
The EIM produced $18.9 million in overall financial benefits for its participants during the first quarter of 2016, up from $12.3 million the previous quarter, the report said.
CAISO attributed the increase to the participation of NV Energy, which joined the real-time market in December 2015. The utility’s addition significantly improved transfer capability between the ISO and the balancing areas belonging to PacifiCorp — the EIM’s first participant — creating a more unified footprint.
Despite its key contribution to unifying the market, NV Energy realized just $1.7 million of the gross benefits during the quarter. The largest share — $10.85 million — flowed to PacifiCorp, while CAISO picked up $6.35 million.
“A significant level of the energy that was exported by the ISO was renewable generation,” CAISO said.
There will be a GRC Fieldtrip to the headquarters of CAISO from the GRC Annual Meeting & GEA Geothermal Energy Expo, October 23-26, Sacramento, California.
