FOLSOM, Calif.--(BUSINESS WIRE)--California Independent System Operator (ISO) reports gross benefits realized in the 2015 third quarter from the western Energy Imbalance Market totaled $12 million, bring the total benefits since the markets launch in November 2014 to $33.41 million.
This quarter saw greater economic values from the EIM five-minute market transfers made during the hot summer months. July saw the greatest amount of benefits, $5.69 million, followed by $3.32 million and $2.99 million for August and September, respectively. Interregional transfers lowered supply costs in one EIM balancing area to meet demand in another. The Q3 benefit of $12 million was 18 percent higher than the previous quarter and reflects the seasonal variation in system and market conditions.
Besides the benefits produced by interregional transfers, savings were also noted by avoiding curtailment of renewable resources in the ISO balancing area. The total avoided curtailment for Q3 was 828 megawatt-hours, which is less than last quarter as there were fewer transfers from the ISO to PacifiCorp, the EIM’s current participant, because of high prices in the ISO area. Avoiding curtailment in Q3 displaced an estimated 354 metric tons of carbon dioxide that would have been produced if the renewable resources had been forced to reduce generation output.
To read the third quarter report and learn more about EIM, click here.
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