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Energy imbalance market savings climb to nearly $255M since launch

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Essential Energy Insights - September 17, 2020

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Energy imbalance market savings climb to nearly $255M since launch

The western energy imbalance market produced benefits of $40.6 million for its participating members in the third quarter of 2017, the California ISO said in its most recent benefits report.

The report said the energy imbalance market has provided $255.0 million in benefits since its launch in 2014. Along with releasing the newest quarterly report on Oct. 18, the grid operator issued a revised second-quarter 2017 report in which benefits increased by $1.2 million based on June's results.

According to the report, energy imbalance market participants helped reduced carbon emissions in the region by 9,986 metric tons by using 23,331 MWh of excess renewable energy that otherwise would have been turned off.

During July, August and September of this year, Berkshire Hathaway Energy subsidiaries PacifiCorp and NV Energy Inc. realized benefits of $10.31 million and $8.55 million, respectively. CAISO saved $7.63 million and Pinnacle West Capital Corp. subsidiary Arizona Public Service Co. saved $11.08 million, the report said.

Meanwhile, Puget Sound Energy Inc. saw benefits of $3.0 million during the three-month period.

The market's newest member, Portland General Electric Co., entered the energy imbalance market at the beginning of October, after the study period for the report.

In April 2018, IDACORP Inc. subsidiary Idaho Power Co. along with Powerex Corp., the energy marketing subsidiary of BC Hydro and Power Authority, will join the energy imbalance market.

Seattle City Light, the Balancing Authority of Northern California/Sacramento Municipal Utility District and the Los Angeles Department of Water and Power will start participating in the energy imbalance market in April 2019. Phoenix-area utility the Salt River Project plans to join in April 2020.