Price map Shows wholesale power market prices electricity based on the cost of generating and delivering it from particular grid locations called nodes. [2] CAISO, 2021 Three Year Policy Initiatives Roadmap and Annual Plan, Market and Infrastructure Policy, November 2020. any price in the CAISO market, then the provisions should reflect this intent. 2 Evolving Resource Adequacy Challenges Resource adequacy in CA ♦Assuring sufficient supply for system and local reliability needs has been a policy priority since the Western power crisis of 2000-01 ♦Current framework relies on a mix of regulated planning (LTPPs), CAISO backstops (e.g., CPM), and market-based mechanisms (RA) resource adequacy ("RA") requirements that have environmental or other significant operational limits, such as must-offer requirements and associated incentives. It helps smooth out price swings of the electricity business cycle” (NOPR ¶473). La Paloma said that FERC should require CAISO to implement mandatory centralized resource adequacy procurement, including a downward-sloping demand curve and minimum offer price rule (MOPR). Avoided resource adequacy (RA) costs were also included in the final valuation, as applicable. RA. CAISO Business Practice Manual BPM for Definitions & Acronyms Version 76 Last Revised: December 8 2010January 21, 2011 Page 4 1. But if you assume that a battery needs in the neighborhood of $10 per kW-month, that equates to just about $80 per MWh of arbitrage value. Decision Adopting Resource Adequacy Import Requirements D.20-06-028 This decision addresses the issues scoped for limited rehearing in Decision (D.) 20-03-016, and the issues scoped as Track 1 in the Scoping Memo of Rulemaking 19-11-009. This paper compares market designs intended to solve the resource adequacy (RA) problem, and finds that, in spite of rivalrous claims, the most advanced designs have nearly converged. ♦Resource adequacy standards offer several attractive benefits • Ensure adequate reliability, prevent curtailments • Address common good/free ridership problem • Reduce price volatility and investment risk premiums • Mitigate market power in spot energy markets ♦Do reserve requirements distort markets? ER16-1085-000, June 2016. If you can get half of your battery covered by resource adequacy payments of $5 per kW-month (not for sure, but not a crazy number), then you have to make up the balance from various flavors of energy arbitrage. While it does not have a formal capacity auction, it does have a specific process to address resource adequacy in the near term. I. local. “RA Substitute Capacity” means capacity that the CAISO permits under the CAISO Tariff to be substituted for a Resource Adequacy Resource that is on Outage. Peter Cramton. Resource Adequacy Enhancements Sixth Revised Straw Proposal Submitted by Company Date Submitted Mike Benn 604.891.6074 Powerex Corp. January 21, 2021 Powerex appreciates the opportunity to submit comments on CAISO’s December 17, 2020 Resource Adequacy Enhancements Phase 1 Draft Final Proposal and Sixth Revised Straw ERCOT Releases Seasonal Assessment of Resource Adequacy for Spring LCG, March 3, 2016--The Electric Reliability Council of Texas (ERCOT) on Tuesday released its Seasonal Assessment of Resource Adequacy (SARA). View/ Open. A. Both mechanisms are components of the CAISO’s backstop procurement authority, which allows the CAISO to remedy resource adequacy deficiencies not covered by the load-serving entity (LSE) resource adequacy procurement. Date 2006-04. Resource adequacy analysis for the region is critical during extreme summer loading conditions as the reserves have tightened because of recent retirements. ... CAISO: 1 MW: Flat price ($/kw-month) 01/01/2019: 12/31/2020: Q1 Q2 Q3 Q4 Year Round: Under this approach, CAISO is authorized to procure capacity in specific instances, with one-year agreements that do not involve publicly visible bidding. If you can get half of your battery covered by resource adequacy payments of $5 per kW-month (not for sure, but not a crazy number), then you have to make up the balance from various flavors of energy arbitrage. Finally, CAISO should commence a stakeholder initiative in advance of summer 2021 to examine the potential for a new bid-cost recovery mechanism for importers that are supplying energy during defined critical conditions (e.g., when Flex Alerts are issued). CAISO Business Practice Manual BPM for Definitions & Acronyms Version 76 Last Revised: December 8 2010January 21, 2011 Page 4 1. 3. 7.2.1 Comparison of Natural Gas Price Forecasts 7.2.2 Shale Gas 7.3 SP15 Forward Power Prices 8 Intermediate Term (Five -Year Forward) Power Resource Forecasts 8.1 Capacity, System Peaks and Resource Adequacy Needs 8.1.1 Current CAISO Paradigm 8.1.2 New FRAC/MOO Paradigm 8.2 Renewable Energy Resources and RPS Mandate Peter Cramton. U.S. (CAISO, SPP, NYPP, PJM, NEPOOL, MISO, NYISO, ISO-NE), Australia's SWIS and Brazil Without resource adequacy requirement Energy + capacity model ERCOT, AESO, Australia's NEM, NordPool, GB and other EU markets Table 1 Examples of Market Designs for Resource Adequacy 2.1 energy-only models In energy-only models, customers theoretically flexible capacity, which contributes to the Utilities’ resource adequacy obligation. The original dichotomy between approaches based on long-term energy contracts and those based on short-term capacity markets spawned two design tracks. through the Resource Adequacy program pursuant to resource requirements established by the CPUC, but that these purchases are not necessarily the result of competitive solicitations. Adequacy Report confirms that the weighted average price for local resource adequacy capacity is 31 percent higher than the weighted average price for system capacity. Secondly, what are capacity markets? In particular, the CAISO will consider updates to must-offer requirements for all types of resource adequacy resources and the availability standards contained in the CAISO Tariff. 2. CAISO Addresses Resource Adequacy Policy Inadequacy 27 Oct The grid operator Oct. 27 adopted a change to resource adequacy requirements that will provide generators with more flexibility in how they line up substitute capacity when they experience unexpected breakdowns or other forced outages. This in turn has led to the development of a variety of ‘resource adequacy’, capacity obligation, capacity pricing, and scarcity pricing mechanisms. It finds that the need to respond to a “once in 35-year” heatwave exposed shortcomings in planning of Resource Adequacy for the California grid, as well as in energy market design, while the heatwave itself caused havoc with energy supply. Monthly Resource Adequacy Standard Capacity Product Allocation (CC 8820) Inputs - External Systems. Local Resource Adequacy Capacity (CAISO Los Angeles Basin) c. Flex Capacity Resource Adequacy Capacity 4. • Costs of LDC contracts to meet resource adequacy criteria are not reflected in wholesale market prices •Need more fast flexible resources (generation and/or storage) to meet late day ramp and variations in wind and solar •The $1000/MWh price cap in CAISO is too low and rises too Originally Posted on Troutman Sanders’ Washington Energy Report On January 18, 2018, FERC approved California Independent System Operator Corporation’s (“CAISO”) changes to its resource adequacy program to, among other things, (1) allow capacity located in a local capacity area, but procured as system capacity, to provide system substitution capacity during forced outages and (2) … 4. – $220 million of resource adequacy benefits from diversity benefits between CAISO & PacifiCorp East With 1,000 MW of ID Wind: Up to $2.1 billion in cost savings by accessing 1,000 MW of ID wind – $930 million of public-policy cost savings from ID wind with lower net costs than CA solar (see next slide) There has been a lot of talk recently about the need for scarcity pricing of electricity in wholesale markets as a means to send price signals for resource adequacy requirements to markets. The low point was 2019 with earnings of $4.34 per kW-month while 2020 YTD is the high point of $5.97 per kW-month. The day ahead market runs the day before the energy is needed, while the 15 minute market runs in 15 minute intervals to … Generators receive revenue from electricity sales, resource adequacy commitments, ancillary services and subsidies. These issues must be resolved before metered hybrid solar-plus-storage systems can participate in the resource adequacy market, Randolph said. Flexible Resource Adequacy. Therefore, the Board determined that Metcalf must be designated as a reliability must-run resource under CAISO’s tariff. Introduction For over a decade, the Commission has largely deferred to the CPUC’s RA program to Since 2006, CAISO and the local regulatory authorities within its balancing authority area, chiefly the California Public Utilities Commission (CPUC), have jointly administered the resource adequacy program. Utilities bilaterally procure capacity, and CAISO retains the authority to procure backstop capacity if needed. The advent of state clean energy policies is pushing market operators across the nation to adapt how they price and value generation capacity. At the same time, California’s resource adequacy requirements present a sizable challenge in the transition to a … BPM Configuration Guide: Monthly CPM Flexible Resource Adequacy Resources Settlement (CC 7886) Version 5.0 Table of Contents. The resource adequacy (RA) program has served that purpose well in the decade-plus since it was created after the California energy crisis. As a result, CAISO’s software automatically set such offers to a price of zero. The occasional price spikes (July-Aug 2018, Feb-Mar 2019 and Aug 2020) juice the earnings up even more. As you all know I'm not an economist and I'll never claim to be skilled in such matters that economists tackle. CAISO has opted to broaden its energy market to include parts of the Pacific Northwest, Arizona, and Nevada. Price correction reports These reports provide summaries of the price corrections made by week. “A resource adequacy requirement provides for timely development of supply and demand response resources to assure regional resource adequacy. CAISO Public . Electricity Resource Adequacy (RA) and planning targets. The program is designed to ensure that California Public Utilities Commission (CPUC or Commission) jurisdictional Load … 1611).These include a need for resource-adequacy reform, ensuring that demand—load and exports—is properly prioritized; enhancements to the day-ahead markets; and improvement of market incentives when supply … I. CAISO Resource Adequacy Events of August 2020 II. On January 23, 2019, a Draft Final Proposal was published and held a stakeholder meeting. ISO PUBLIC –© 2018 CAISO Clearing price is where supply and demand cross Supply bids Demand bids Energy $/MWh MW Page 9 Total cleared demand Market clearing price Demand price takers ... • Resource Adequacy • Congestion Revenue Rights • Full Network Model • Load Forecast • … While it does not have a formal capacity auction, it does have a specific process to address resource adequacy in the near term. CAISO said the additional capacity is the result of state-ordered resource procurement. New York’s Resource Adequacy Proceeding. "The commission is interested in furthering this discussion and, to that end, the decision requests CAISO and the CEC participate in a joint public workshop later this calendar year," she concluded. Source: CAISO To understand why we need to understand how California’s regulatory framework for ensuring reliability, Resource Adequacy, is … 7. CAISO - Public Modeled as a load, with options for resource to be pre-defined or customized 30 % 60 % 10 % 30 % 70 % Pre-defined by Sub-Lap (available within ISO BA) • CAISO pre-assigned a generation distribution factor (GDF ) to resource Customized (EIM participants must use) • DRP customizes the resource by selecting 6. I. Powerex Supports Prioritization of Resource Adequacy Initiatives On OASIS you will find real-time data related to the ISO transmission system and its Market, such as system demand forecasts, transmission outage and capacity status, market prices and market result data. CAISO Resource Adequacy Requirements • Resource adequacy for California entities • Monthly and annual compliance filings showing Load Serving Entities have enough owned and contracted resources to meet at least peak demand plus a 15% reserve margin. This will help inform future discussions around storage, resource adequacy, and CAISO’s needs for flexible resources available in real time. EXISTING LAW: 1) Requires the CPUC, in consultation with the CAISO, to establish resource adequacy requirements for all load-serving entities (LSEs), facilitate the development of resources, Reliability Contribution: Solar’s contribution to the overall resource adequacy of the power system is measured by its “capacity credit”. A resource is dispatched at its location, and is paid the nodal price . I. the Flexible Resource Adequacy Criteria and Must-Offer Obligation third revised straw proposal on October 3, 2013, and issues discussed during the stakeholder meeting on October 9, 2013. These examples are not meant to reflect actual resource or load locations . The Utilities acquire the capacity and receive resource adequacy credit for it but have ... lack of meaningful price signals CAISO’s new CEO has admitted, in a June 2 FERC technical conference, that CAISO’s MOO/MLCC tariff provisions amount to nothing more than “free capacity”. California Wildfire Experience and Broader Resiliency Issues ... DA-RT price convergence due to virtual trading, and RUC ... – The last major resource adequacy event in 2001 lasted more than 38 days combined and Please contact clientservices@accessintel.com or call 888-707-5814 (M – Th 9 am – 5:30 pm and F 9 am – 3 pm. provided as required, (iii) associated with Resource Adequacy Capacity (as defined by the CAISO) from the Facility (including Non-Availability Charges (as defined by the CAISO)), if applicable or (iv) to the extent arising as a result of Seller’s failure to comply with a timely Buyer Curtailment Order if up on this initiative, committed to creating a resource adequacy program for the state. 1.46 “RAR” means the resource adequacy requirements, exclusive of FCR or any local area reliability requirements, established for LSEs by the CPUC pursuant to the CPUC Decisions or by another The price for as-available energy is based on the same pricing methodology adopted for energy price at time of delivery: hourly LMPs from the CAISO day-ahead market. 9 . On June 20, 2018, La Paloma, which owns a 1,124 MW generating facility in McKittrick, California, filed a complaint against CAISO alleging that CAISO’s tariff is unjust, unreasonable and unduly discriminatory as it relates to resource adequacy. DMM appreciates that the ISO has committed to addressing resource adequacy bidding and scheduling on the interties in its Resource Adequacy Enhancements initiative. Operator Corporation (“CAISO”), regarding the sufficiency of the Resource Adequacy (“RA”) program administered by the California Public Utilities Commission (“CPUC”) and the CAISO. The CAISO has, however, indicated that this stakeholder process will include other issues beyond merely focusing on a market-based backstop procurement mechanism. But if you assume that a battery needs in the neighborhood of $10 per kW-month, that equates to just about $80 per MWh of arbitrage value. System Adequacy with Intermittent Resources 3 . ... State grid operator CAISO … In addition to the summer 2021 readiness measures, the board approved the first phase of CAISO's resource-adequacy enhancements, a new 2020-2021 transmission plan and another reliability must-run contract—this one for the Kingsbury cogeneration plant in … CAISO Public A resource is dispatched at its location, and is paid the nodal price Load pays the weighted average price of all load nodes in the Load Aggregation Point (LAP) Basics of EIM operation & settlement These examples are not meant to reflect actual resource or load locations Base schedule: Forward energy schedule, including hourly load ... CAISO CRR Auctions Monthly Price and Congestion Forecasting Service: Workshops. 2018 Integrated Resource Plan Table of Contents Anaheim Public Utilities Page 6 | 206 Graph 81: Customer Survey – Residential Controlled Group on Potential Bill Increase Due To Over 50% 14 Thus, CAISO agrees with suppliers’ concerns about the inequitable nature of this 3. Stakeholders may submit new initiative requests through the policy initiatives submission template posted on the Annual Policy Initiatives website.2 Submissions will be collected and considered for its respective catalog 2. The objective of this program was to support the system reliability objectives of the CAISO while improving the economic efficiency and assuring reasonable prices for the California consumers. Responsibility for Ensuring Reliability. CAISO Public Summer 2021 reliability: market policy improvements (con’t) Page 3 • Enhanced outage substitution procedures to ensure resource adequacy planned … Further, the Board approved a proposal to adjust the incentive mechanism for ensuring appropriate participation in the CAISO’s resource adequacy program. Operator Corporation (“CAISO”), regarding the sufficiency of the Resource Adequacy (“RA”) program administered by the California Public Utilities Commission (“CPUC”) and the CAISO. La Paloma alleged that the resource adequacy regime in California was unjust, unreasonable, and unduly discriminatory. As a remedy, La Paloma requested that the Commission direct CAISO to implement centralized resource adequacy procurement and a transitional payment mechanism. Example day: The CPM is a voluntary backstop mechanism that permits CAISO to procure capacity to address a deficiency or supplement resource adequacy to maintain grid reliability. CAISO should consider the impact of differing resource adequacy standards for the CAISO BA and EIM BAs on the performance of the RSE; PG&E believes that the differing requirements between California’s Resource Adequacy program and the requirements of the … Confirmation – Resource Adequacy Capacity Product for CAISO Resources Author: lcw4 Last modified by: Sastry, Soumya Created Date: 2/13/2012 5:59:00 PM Other titles: Confirmation – Resource Adequacy Capacity Product for CAISO Resources Development of the new policies is driven by the findings of a preliminary root-cause analysis issued by CAISO and state agencies in October (see CEM No. Row # Variable Name Description 1 CAISONonAvailabiltyChargePrice The "price" value in the Non-Availability Charge formula is the replacement cost (or CAISO "backstop" cost) of capacity that is established in the CAISO Tariff. ALLOWABLE BID PRICE FOR IMPORT RESOURCE ADEQUACY As explained in SCE’s opening comments, the existing resource adequacy (“RA”) import rules as described in the Ruling1 leave the potential for energy import bids to be priced at or near the California Independent System Operator (“CAISO”) market bid cap, which has drawn • Resource adequacy criterion establishes sufficient amount of ... is the cost of an outage to customers or the price that an average customer would be willing to ... CAISO . On numerous occasions, there was literally insufficient capacity to meet customers’ electricity requirements, and the CAISO managed voltage reductions, other emergency actions, and rolling Calpine, a major independent power producer, filed comments supporting La Paloma’s claim that the CAISO tariff is unjust and unreasonable as it relates to resource adequacy… Price/srmc Steven Stoft. La Paloma also contended that the new framework should include “appropriate flexibility requirements.” Association urged FERC to reject complaint The order follows on the heels of a Jan. 13 decision in which the Commission launched an investigation into the price cap in WECC outside CAISO territory. The amount of Resource Adequacy Capacity that a Scheduling Coordinator is required to maintain in accordance with Section 40. 2.2 Description 4. In this Introduction you will find the following information: ¾ The purpose of the CAISO BPMs ¾ What you can expect from this CAISO BPM 3.1 Business Rules 4. up on this initiative, committed to creating a resource adequacy program for the state. Source: 2020 CPUC RA Guide and CAISO Pre-Market SIM training. Notes. Resource Adequacy Takes on a Special California Political Flavor RIn 2001, the CAISO was developing a month-ahead ACAP requirement as part of its MD02 RIn 2002, California asserted its aversion to placing resource adequacy rules under FERC jurisdiction through the CAISO – CPUC was placed in charge of determining RAR for IOUs Resource adequacy evaluation reports This report provides RA compliance data regarding individual and/or aggregate validation of system and local RA showings. In response to these challenges, CAISO intends to develop a replacement proposal for its backstop resource adequacy procurement mechanism, consider the … On March 27, 2019, the CAISO Board of Governors approved the Draft Final Proposal. 3.3 Successor Charge Codes 5. If the intent is to ensure that an import resource is providing reasonable bids that would make the import energy 4 CAISO, Resource Adequacy Enhancements Revised Straw Proposal, July 1, 2019, at 42-43, available 2.1 Background 3. In the simplest terms, RA is just a regulatory construct developed to ensure that there will be sufficient resources available to serve electric demand under all but the most extreme conditions. On May 29, 2020, FERC accepted the California Independent System Operator Corporation’s (“CAISO”) proposed update to its capacity procurement mechanism (“CPM”) compensation for offers above the soft offer cap, where a participating resource will be compensated at the resource’s going-forward fixed costs plus a 20 percent adder. The California Independent System Operator (CAISO) wants state regulators to reconsider a decision on resource adequacy (RA) import rules, saying in a … Southern California Edison issues the 2018 Resource Adequacy Request for Offers for eligible Resource Adequacy (RA) Capacity products summarized in the product tables below: Updated 9/5/2018. adequacy obligations, including local, zonal (if established by the CAISO), and system resource adequacy requirements under resource adequacy requirements as promulgated by any relevant body, including the California Public Utilities Commission, Federal Energy Regulatory Commission, or the CAISO. • Demonstrate expert knowledge of the California Independent System Operator (CAISO), including energy, resource adequacy, capacity, and ancillary services markets, pricing, and settlements process. California’s resource adequacy requirements are important because they help ensure that the state has enough electricity-generating resources in the right places. – Resource adequacy and resource planning will continue to remain with member utilities and their respective regulating authorities • Intended to be similar and additive to EIM: – Seeks added benefits from day-ahead resource optimization – Intended to further … Procedural Steps Comments on the Proposed Decision are due on April 23, 2020, and … On August 8, 2019, the PSC issued an order initiating the resource adequacy proceeding. The California Public Utilities Commission (CPUC) has adopted a flexible capacity framework to start in 2015, requiring CPUC-jurisdictional load serving entities (LSEs) to procure a certain level of flexible capacity when meeting resource adequacy needs. 3. capacity requirements due to transmission constraints. 1. The Convergence of Market Designs for Adequate Generating Capacity with Special Attention to the CAISO's Resource Adequacy Problem A White Paper for the Electricity Oversight Board. RA Resource: As defined by the CAISO Tariff: A resource that is required to offer RA Capacity. Timeline of Events for Friday, August 17, 2020. CAISO states that the “soft offer cap is based on the levelized going-forward fixed costs of a reference resource, plus a 20 percent adder.” Thus, CAISO recommends “that the Commission clarify Order No. price is the result of a 2011 settlement between various California parties, including load-serving entities and merchant generators. The California ISO Department of Market Monitoring notes in its comments to the CPUC on proposals to address resource adequacy shortages during last August’s rolling blackouts that the number of fixed price contracts are decreasing. The Resource Adequacy (RA) program accomplishes these concerning resource adequacy requirements met by imports. Please submit your comments below where indicated. the Resource Adequacy Program, Consider Program Refinements, and Establish Forward Resource Adequacy ... CAISO 2018 Annual Report -- Proxy Demand Response Bid Prices and Average Schedules July ... DMM 2018 Annual Report -- Average Daily Price for Electricity and Natural Gas (2018) ..... 26 Figure 8.
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