webEIM: CAISO EIM Continues to Help Participating BAs Save
Mar 14, 2017
The California Independent System Operator (CAISO) reports estimated benefits of $28.26 million for all Energy Imbalance Market (EIM) participating resources in the fourth quarter (Q4) of 2016. In addition, 10,000 metric tons of carbon emissions were avoided by using more than 23,390 MWh of surplus renewable energy to balance energy demands across its participating balancing authority areas (BAAs). Estimated gross benefits for the CAISO EIM now total more than $142 million since the market began in 2014.
For participating Balancing Areas (EIM Entities), such as Nevada Energy (NV Energy), the opportunities provided by the CAISO EIM are a source of huge savings for their customers. For instance, NV Energy originally estimated total gross benefits of $5.1 million for 2016—its first year of participation. By the end of Q2, NV Energy had already exceeded this estimate. CAISO Q4 benefits reports reveal that NV Energy was able to save their customers $3.08 million in Q4 of 2016, bringing their total gross benefits to $10.46 million. To NV Energy, this is a clear indication that OATI’s webEIM automation engine is helping them exceed their benefits and business goals. NV Energy sees the benefit trend continuing well into the future as more BAs join the EIM.
Additional entities joining the CAISO EIM include Idaho Power and Portland General Electric (PGE). PGE is scheduled to participate in the CAISO EIM by October of 2017 utilizing OATI’s complete and sophisticated webEIM settlement system, similar to NV Energy.