Western Energy Imbalance Market Design Gets Approval from ISO Board
The design framework for a California Independent System Operator (ISO) energy imbalance market (EIM) received approval from the ISO board of governors. The EIM will allow western grid operators, known as “balancing authorities”, to voluntarily participate in a real-time energy market that enhances grid reliability and responsiveness, effectively integrates renewable power and saves wholesale energy costs. The ISO’s first EIM partner, PacifiCorp, has been working with the ISO to prepare for implementing the market expected to go live on October 1, 2014. The EIM design will enhance the Federal Energy Regulatory Commission (FERC) Order No. 764, which fosters better integration of renewables within electric regions. The ISO is already on course to implement Order No. 764 market changes in the spring of 2014. The vote by the board also authorizes ISO management to file EIM-enabling proposed tariff changes with FERC.