INITIATIVE:
Price formation enhancements

Started: Apr 11, 2022

Leads
James Friedrich

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.

Status

Proposal Development Decision Implementation Completed/Closed
Mar 12, 2024* Meeting
Mar 18, 2024* Meeting
Apr 02, 2024* Meeting

Activities

Web meeting


Presentation - Price Formation Enhancement - Feb 21, 2024

Web meeting


Presentation - Price Formation Enhancement Workshop - Feb 12, 2024


Updated Price Formation Enhancements Working Group Schedule 2024

Web meeting


Working Group Session 12, Scarcity Pricing Sprint 3

Presentation - Price Formation Enhancements - Jan 24, 2024

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Web meeting


Working Group Session 11, Scarcity Pricing Sprint 2

Presentation - Price Formation Enhancements - Jan 17, 2024

Web meeting


Working Group Session 10, Scarcity Pricing Sprint 1

Presentation - Price Formation Enhancements Working Group - Jan 10, 2024

Web meeting


Working Group Session 9

Presentation - Price Formation Enhancement - Dec 12, 2023

Mike Cadwalader Comments Price Formation Enhancements Working Group Session 9 - Jan 11, 2024

Web meeting


Working Group Session 8

Presentation - Price Formation Enhancements - Nov 16, 2023

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Web meeting


Working Group Session 7

Presentation - Price Formation Enhancements - Oct 25, 2023

Draft Final Proposal - Scarcity Pricing - Oct 05, 2009

Web meeting


Working Group Session 6

Presentation - Price Formation Enhancement - Oct 12, 2023

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Web meeting


Working Group Session 5

Discussion Paper - Price Formation Enhancements - Sep 21, 2023

Presentation - Price Formation Enhancements - Sep 27, 2023

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Web meeting


Working Group Session 4

Presentation - Price Formation Enhancements - Sep 14, 2023

Poll Results - Price Formation Enhancements - Sep 14, 2023

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Revised Price Formation Enhancements Overview

Hybrid meeting


Working Group Session 3

Presentation - Price Formation Enhancement - Aug 17, 2023

Poll Results - Price Formation Enhancements - Aug 17, 2023

Chat - Price Formation Enhancements - Aug 17, 2023

Hybrid meeting


Working Group Session 2

Presentation - Price Formation Enhancements - Aug 10, 2023

Poll Results - Price Formation Enhancements - Aug 10, 2023

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Hybrid meeting


Working Group Session 1

Presentation - Price Formation Enhancements - Aug 3, 2023

Poll Results - Price Formation Enhancements - Aug 3, 2023

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Price Formation Enhancements Overview

Web meeting


Presentation - Price Formation Enhancements - Jun 26, 2023

Hybrid meeting


Presentation - Price Formation Enhancements - Mar 20, 2023

Web meeting


Presentation - Price Formation Enhancements - Dec 16, 2022

Web meeting


Presentation - Price Formation Enhancements - Nov 16, 2022

Web meeting


Issue Paper - Price Formation Enhancements

Presentation - Price Formation Enhancements - Jul 12, 2022

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Web meeting


Powerex and Public Power Council Report - Importance of Fast Start Pricing in Market Design

GDS Associates Report - Efficient Market Prices During Tight Supply Conditions - Issues and Recommendations

Presentation - Price Formation Enhancements Workshop - Jun 9, 2022

Powerex Presentation - Price Formation Enhancements - Jun 9, 2022

Calpine Presentation - Price Formation Enhancements - Jun 9, 2022

Rev Renewables Presentation - Price Formation Enhancements - Jun 9, 2022

WPTF Presentation - Price Formation Enhancements - Jun 9, 2022