Western EIM Yields $23.6 Million in Benefits During 2Q2016
The California Independent System Operator (CAL-ISO) reported on July 28 that the western Energy Imbalance Market (EIM) yielded $23.6 million in benefits during the second quarter of this year. To date, total benefits accrued by the western real-time market top $88 million.
The western EIM – which went live on November 1, 2014 – creates significant reliability and renewable integration benefits for ratepayers by sharing and economically dispatching a broad array of resources, CAL-ISO stated.
The independent system operator’s advanced market systems automatically balance supply and demand for electricity every 15 minutes, dispatching to customers. CAL-ISO uses sophisticated technologies to find the lowest-cost energy.
NV Energy, which entered the EIM in December 2015, continues to add value to the market CAL-ISO said, by providing greater real-time transfer capability into Nevada and to other states. NV Energy realized $5.2 million in benefits in the second quarter while PacifiCorp benefits reached $10.51 million. The ISO accrued $7.89 million in cost benefits to its system
The western EIM’s second-quarter report for 2016 shows a 25-percent increase in benefits from the previous quarter, driven primarily by an increase in energy demands from seasonal changes.
“The EIM continues to prove that consolidating the real-time energy market across the western region can save money while having positive impacts on the environment,” said CAL-ISO’s CEO Steve Berberich. “As we add participants, we expect these benefits will continue to show positive results.”
Puget Sound Energy of Washington State and Arizona Public Service are now in the final stages of preparing to enter the EIM in October 2016, Berberich said; while Portland General Electric will begin participating in October 2017, followed by Idaho Power in April 2018.
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