FOLSOM, Calif.--(BUSINESS WIRE)--The California Independent System Operator (ISO) and PacifiCorp will launch the Energy Imbalance Market (EIM) on October 1 in planned stages to ensure seamless integration.
For the past several months, EIM has been tested in a simulation environment. During October the EIM will run parallel to PacifiCorp’s existing systems, giving both organizations a more accurate view of actual market and operating conditions. PacifiCorp will submit daily schedules of demand and supply to the ISO, with EIM creating advisory dispatch instructions based on accurate data to optimize the EIM area. Binding dispatches and related financial settlements will begin on November 1.
“I am grateful for the partnership we have with PacifiCorp and our shared commitment to launching a successful market that produces lower energy costs and improves how we integrate renewable resources,” said California ISO President and CEO Steve Berberich.
“The EIM marks an important step toward improving the way energy is managed in the West and I’m pleased we remain on track to bring the benefits of increased coordination to our customers and the region this fall,” said Pat Reiten, president and CEO of Pacific Power, a unit of PacifiCorp.
The ISO and PacifiCorp, two of the largest western grid operators, announced a partnership in February 2013 to create the real-time energy market facilitated by the ISO and set a “go-live” target of Oct. 1, 2014.
Once fully operational, the EIM is expected to reduce energy costs and improve integration of renewable resources, among other benefits. An additional participant, NV Energy, has been given regulatory approval to participate in the EIM in 2015.
The new market will use industry-leading technology to automatically meet demand with the lowest cost resource across the West. This is effective in using excess generation produced by wind and solar resources during especially favorable weather conditions that otherwise would go unused. The increased geographic diversity also means utilities can pool resources and reduce costly reserves.
For more EIM information, click here.
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The California ISO provides open and non-discriminatory access to
one of the largest power grids in the world. The vast network of
high-voltage transmission power lines is supported by a competitive energy market and comprehensive grid planning. Partnering with about a hundred clients, the nonprofit public benefit corporation is dedicated to the continual development and reliable operation of a modern grid that operates for the benefit of consumers. Recognizing the importance of the global climate challenge, the ISO is at the forefront of integrating renewable power and advanced technologies that will help meet a sustainable energy future efficiently and cleanly. |
