Three organizations join Western Energy Imbalance Service Market
Three organizations — Xcel Energy-Colorado, Platte River Power Authority, and Black Hills Colorado Electric – are joining the Western Energy Imbalance Service (WEIS) Market, operated by the Southwest Power Pool (SPP).
An energy imbalance market is a real-time market in which energy generation from multiple power providers is dispatched at the lowest possible cost to meet customer demand in the region. Joining the market allows these organizations to provide cost savings to customers and improve operational efficiencies.
“As we look at opportunities moving forward, this short-term step meets our energy needs to deliver clean, reliable, and affordable energy to customers right now,” Alice Jackson, president of Xcel Energy—Colorado, said. “The energy imbalance market allows us to participate in an organized market while giving us the flexibility to explore a more permanent solution that will help us integrate more wind and solar energy onto our system.”
The companies expect to join the WEIS in April of 2023.
“Joining the WEIS will expand the benefits we gained from the joint dispatch agreement (JDA) on behalf of our owner communities,” Jason Frisbie, general manager and CEO of Platte River Power Authority, said. “We’ve created excellent partnerships through the JDA that currently provide great value to our customers. Moving into an energy imbalance market brings Platte River one step closer to a noncarbon energy future.”
The agreement to join the WEIS is pending regulatory approvals.