Search

INITIATIVE:
Price formation enhancements

WEIM Advisory
Started: Apr 11, 2022

Leads
James Friedrich
Danny Johnson
Gabe Murtaugh
Gillian Biedler

This initiative will explore several topics related to price formation in the California ISO markets focused on real-time market pricing. Scarcity prices are important to attract supply and incent resources to be available and perform. They are also important to provide appropriate price signals to reduce demand. Recent energy shortages and associated prices in the ISO real-time market have emphasized the need for the ISO to review and enhance its scarcity pricing provisions.  Consequently, the ISO plans to consider the following topics in this initiative: (1) enhance real-time market scarcity pricing to better reflect tight supply conditions, (2) consider fast-start pricing, and (3) enhance how the real-time market uses advisory prices to dispatch resources.

Relevant notices Contact us

Status

Proposal Development Decision Implementation Completed/Closed
Mar 20, 2023 Meeting
Apr 2023* Meeting

Activities

In-person meeting


Presentation - Price Formation Enhancements - Mar 20, 2023 03/17/2023

Web meeting


Video - Price Formation Enhancements - Dec. 16, 2022 12/19/2022

Presentation - Price Formation Enhancements - Dec 16, 2022 12/15/2022

Web meeting


Video - Price Formation Enhancements - Nov 16, 2022 11/17/2022

Presentation - Price Formation Enhancements - Nov 16, 2022 11/14/2022

Web meeting


Video - Price Formation Enhancements - Jul 12, 2022 07/13/2022

Issue Paper - Price Formation Enhancements 07/05/2022

Presentation - Price Formation Enhancements - Jul 12, 2022 07/11/2022

View comments

Web meeting

Powerex and Public Power Council Report - Importance of Fast Start Pricing in Market Design 06/27/2022

GDS Associates Report - Efficient Market Prices During Tight Supply Conditions - Issues and Recommendations 06/14/2022

Video - Price Formation Enhancements - Jun 9, 2022 06/14/2022

Presentation - Price Formation Enhancements Workshop - Jun 9, 2022 06/07/2022

Powerex Presentation - Price Formation Enhancements - Jun 9, 2022 06/07/2022

Calpine Presentation - Price Formation Enhancements - Jun 9, 2022 06/07/2022

Rev Renewables Presentation - Price Formation Enhancements - Jun 9, 2022 06/07/2022

WPTF Presentation - Price Formation Enhancements - Jun 9, 2022 06/13/2022