The California Independent System Operator (ISO) and Salt River Project (SRP) signed an agreement today (April 27, 2017) for the Phoenix-based municipal utility to participate in the western Energy Imbalance Market (EIM) beginning in April 2020.
The western EIM’s advanced market systems automatically find the lowest-cost energy to serve real-time consumer demands of participating utilities. This market enables utilities to buy and sell power more efficiently in the hour before the energy is needed, with five-minute plant dispatching, which result in improved efficiencies and cost savings.
Current western EIM participants have realized savings totaling nearly $142 million since the wholesale market was launched in November 2014.
Utilities now active in the western EIM include Oregon-based PacifiCorp; NV Energy of Las Vegas, NV; Puget Sound Energy of Washington state; and Arizona Public Service of Phoenix, Ariz. Other utilities that have formally agreed to join the EIM include Portland General Electric on October 1, 2017, Idaho Power on April 1, 2018, and Seattle City Light and Balancing Area of Northern California/Sacramento Municipal Utility District on April 1, 2019. The western EIM serves utility consumers in Arizona, California, Idaho, Nevada, Oregon, Utah, Washington, and Wyoming.