Southern California real-time power prices back in triple digits

Southern California real-time power prices back in triple digits

Washington (Platts)--6Oct2004


SP15 real-time prices posted on the California Independent System Operator
OASIS are back in the triple digits. At 11 am PDT Wednesday, the ISO reported
that it was experiencing high Southern California Import Transmission load.
SCIT keeps the grid in Southern California stable when there is a loss of
generation or of major transmission paths into the area. High SCIT loading
occurs when Southern California is trying to import a lot of power. The spikes
in real-time prices began mid-Friday, on the same day the Pacific DC Intertie
transmission line went out of service for maintenance and a new ISO dispatch
system debuted. The 2,990 MW-DC line, which carries bulk power from the US
Northwest to Southern California, will be out until the end of the year.

The real-time market for Southern California spiked again on Monday, but did
not spike on Tuesday. Prices for the SP15 congestion zone in Southern
California reached $140/MWh late Wednesday morning, compared with prices at
about $37/MWh for the NP15 congestion zone in the north. Similar prices were
posted on Monday and Friday. Real-time prices posted on the OASIS last
Thursday afternoon for SP15 and NP15 were in the mid-$50s/MWh, with less than
$10 between them.

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