Western Energy Imbalance Market (WEIM)
The Western Interconnection reached a record-breaking peak load July 10 despite relatively moderate demand in CAISO, the ISO said during a meeting of its Market Performance and Planning Forum.
Stakeholder comments filed with the West-Wide Governance Pathways Initiative illustrate the complexity of building the new kind of Western regional organization envisioned by backers of the effort.
CAISO scored a geographically small but symbolically significant victory with the announcement that two Black Hills Energy subsidiaries will move to the ISO’s Western Energy Imbalance Market.
A single Western market is one of the safest bets to address the region’s reliability and cost issues in the face of extreme weather events, proponents of the West-Wide Governance Pathways Initiative said during a panel discussion.
A new initiative to streamline and expand bilateral trading in the Western Energy Imbalance Market and Extended Day-Ahead Market has been launched, marking another step toward EDAM implementation.
The integration of Markets+ with the Western Resource Adequacy Program would be among a handful of key reliability benefits of SPP’s Western day-ahead offering, according to an “issue alert” published by 10 entities that backed development of the market.
California energy agency heads appeared before state lawmakers to pitch the proposed CAISO governance changes being developed by the West-Wide Governance Pathways Initiative.
CAISO’s Western Energy Imbalance Market provided its 22 participants with $365.04 million in economic benefits from April to June down 4% from the same period a year ago.
CAISO will recommend its board approve a proposal to eventually give the WEM Governing Body increased authority over both the Western EIM and EDAM.
The WEIM Governing Body voted to change its name to the “Western Energy Markets” Governing Body to better reflect its full scope of responsibility since it began overseeing CAISO’s EDAM.
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