PNM looks to join CAISO Energy Imbalance Market
California’s EIM continues to grow as more utilities look to access financial benefits and emissions reductions provided by trading electricity over a larger footprint in the voluntary market.
Last month, CAISO announced the EIM had posted its highest quarterly benefits yet, topping a total of $400 million since its launch and more than $70 million in just the second quarter for the eight market participants.
According to the ISO, in the second quarter there was “an uptick in energy moving out of California through the EIM, as the system experienced high levels of renewable production at a time in the season when temperatures are still cool and electric demand is moderate.”
In the second quarter the market helped reduce carbon emissions in the region by 55,267 metric tons, CAISO said, absorbing 129,128 MWh of excess renewable energy that otherwise would have been curtailed. Since 2015, the EIM has decreased carbon emissions by more than 300,000 metric tons, according to the grid operator.