Western Energy Imbalance Market (WEIM)
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The federal government has put on hold nearly $1 million in funding toward the development of a new independent Western RO to oversee CAISO’s WEIM and EDAM, the West-Wide Governance Pathways Initiative’s Launch Committee said.
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The language for the proposed bill to implement “Step 2” of the West-Wide Governance Pathways Initiative stipulates the conditions under which CAISO and California utilities can participate in energy markets governed by an independent regional organization.
CAISO
CAISO's Western Energy Imbalance Market provided participants $374.25 million in benefits during the fourth quarter of 2024, down about 4% from the same period a year earlier, according to an ISO report.
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El Paso Electric says it will join SPP’s regional day-ahead Markets+ service offering in a “strategic move … tailored” to meet expected customer load growth and evolving needs.
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FERC approved CAISO’s tariff revisions related to real-time bid cost recovery rules for energy storage resources.
CAISO
Prices in CAISO’s WEIM fell sharply in the third quarter of 2024 compared with a year earlier as declining gas costs outweighed the impact of increased summer loads, the DMM found.
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Establishing a fast-start pricing mechanism in CAISO and the WEIM is complex and brings few benefits compared to other potential market enhancements, the ISO's Department of Market Monitoring said.
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CAISO’s launch of the Extended Day-Ahead Market will not spell the end of a Western real-time-only offering from the ISO, according to CEO Elliot Mainzer.
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The Balancing Authority of Northern California became the third entity to formally join CAISO’s Extended Day-Ahead Market, following PacifiCorp and Portland General Electric.
Markets+ Joint Authors using CAISO data
CAISO will be inherently compromised in its role as an operator of a deeper Western market because of its conflicting responsibilities as BA within that market, a group of entities that support SPP’s Markets+ argue in their latest “issue alert.”
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