The California ISO has published its Winter Conditions Report for January 2024, focused on market performance during the Martin Luther King Jr. Day weekend in mid-January. The report provides a detailed analysis of the ability of the Western Energy Imbalance Market (WEIM) to economically re-dispatch and access resources across the WEIM footprint to serve load reliably, in the face of record-breaking cold weather and congestion caused by high demand in the Northwest and transmission constraints throughout the system.
The Pacific Northwest and Rocky Mountain states experienced severe winter weather with strained grid conditions from January 13-15. Energy emergencies were declared for a number of balancing authority areas in the Pacific Northwest. CAISO’s hourly intertie exports in the day-ahead and real-time markets increased significantly, supporting critical transfers to the Northwest. The WEIM economically re-balanced supply across all balancing areas to meet demand as real-time conditions evolved and also allowed participating areas to access valuable Assistance Energy Transfers.
Prices reflected regional conditions with high prices in the Pacific Northwest. Congestion between California and the Pacific Northwest limited the volume of northbound exports. For example, congestion at the Malin intertie, located in southern Oregon, resulted in over $100 million in congestion rents in the day-ahead market.
A discussion of this report is scheduled as part of the quarterly Market Performance and Planning Forum on March 11, 2024. The report is available on the ISO’s News webpage and on our Reports and bulletins webpage, under the Monthly market performance reports heading. The agenda is posted to the User groups and recurring meetings webpage, under the Market performance and planning forum heading.
Participants have the option to attend the March 11 forum in person at the ISO, or virtually. If you plan to attend the March 11 forum in person, please register by end of day on March 7. A presentation related to the Winter Conditions Report will be posted by March 8, 2024.
The meeting will be recorded, and the video file will be posted on the miscellaneous stakeholder meetings webpage. The recording is for informational and convenience purposes only. Any related transcriptions are not to be reprinted without the ISO’s permission.
Meeting details
Date: March 11, 2024
Time: 9 a.m. - 12 p.m. Pacific Time
Location: California ISO, 250 Outcropping Way, Folsom, CA
Add to calendar
Virtual participation
Complete the pre-registration form to receive a link to participate prior to joining the meeting.
In-person participation: Register by end of day March 7.
|
