Dive Brief:
- The Western Energy Imbalance Market (EIM) produced benefits of $40.55 million for its five participating members during the third quarter of this year, according to the California ISO. According to the report, participants also helped trim carbon emissions in the region by 9,986 metric tons by using 23,331 MWh of excess renewables.
- Since launching in 2014, the western regional market has saved participants almost $255 million. Arizona Public Service and PacifiCorp each accrued more than $10 million in benefits during the third quarter this year.
- In addition to the five participating members noted in the report, Portland General Electric began participation on Oct. 1, and will be included in the fourth quarter EIM benefit report.
Dive Insight:
The Western EIM continues to accrue benefits by allowing energy trading across a large geographic area and easing the integration of more renewable energy.
A significant contributor to benefits is transfers across balancing areas, which the market report explains helps to provide access to lower cost supply, while factoring in the cost of compliance with greenhouse gas emissions regulations when energy is transferred into the ISO.
In addition to the third quarter report, the California ISO has also revised the second quarter report, increasing those benefits by $1.2 million based on June results.
“The western EIM continues its steady course of showing low cost energy while improving reliability for all its participants,” ISO President and CEO Steve Berberich said in a statement. “And just as important, the real-time market helps integrate renewables across a wider geographical area.”
The EIM began financially‐binding operations in late 2014 between the California ISO and PacifiCorp balancing authority areas. NV Energy in Nevada began participating in December 2015; Arizona Public Service and Puget Sound Energy began operations October, 2016. Portland General Electric began participating this month.
The market footprint now includes portions of Arizona, California, Idaho, Nevada, Oregon, Utah, Washington,
and Wyoming.
A copy of the third quarter benefit report can be found here.
