Western Energy Imbalance Market (WEIM)
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.”
NW Energy Coalition
CAISO’s Board of Governors and WEM Governing Body approved ISO tariff amendments needed to implement the West-Wide Governance Pathways Initiative’s “Step 1” proposal.
WAPA
The Western Area Power Administration said its Sierra Nevada region will pursue “final negotiations” to join CAISO’s Extended Day-Ahead Market, notching another — if expected — victory for the ISO in its competition with SPP’s Markets+.
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A representative of one of the staunchest opponents of past efforts to transform CAISO into an RTO said his labor union plans to sponsor the legislation needed to implement the “Step 2” proposal of the West-Wide Governance Pathways Initiative.
CAISO
NV Energy’s decision to join CAISO's Extended Day-Ahead Market rather than SPP's Markets+ was based partly on concerns that participation in the latter would “lead to substantial expenditures with limited results,” a representative of the Nevada utility said.
CAISO
First-quarter electricity prices in CAISO markets were down sharply from the same period in 2023, despite sharp spikes during the January cold snap in the Pacific Northwest, the ISO’s Department of Market Monitoring said.
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