EDAM Reports $32.8 Million of Gross Benefits in Its First Five Months, 24.9% on Top of the Imbalance Market for the Same Utilities

CAISO's Extended Day-Ahead Market produced $32.77 million in gross benefits from its launch on 1 May to the end of September, according to the third-quarter Western Energy Markets benefits report published on 29 October. The CAISO area took $16.11 million, PacifiCorp East $10.58 million and PacifiCorp West $6.08 million.

TEI compared that with the real-time imbalance market's reported benefits for the same utilities over the same five months, $131.69 million. EDAM added 24.9% on top, and the ratio was almost identical for CAISO and for PacifiCorp.

Per megawatt-hour of EIA-930 demand, the gain was 15 cents in the CAISO area, 44 cents in PACE and 70 cents in PACW. Netting the reported transfers by month shows California selling into PacifiCorp's areas in May and June and buying from them from July, with a net import of 121,237 MWh in September.

Settlements for the new imbalance reserve and reliability capacity products totalled $60.4 million over the period, $55.3 million of it in the CAISO area. CAISO cautions that these costs are not comparable with pre-EDAM procurement. Portland General Electric joined on 1 October.

The full analysis, with monthly tables and settlement detail, is in TEI's research piece.