Arizona Public Service customers have saved $5.98 million from the company’s participation in the Energy Imbalance Market (EIM), according to a new report released from the California Independent System Operator. The report analyzed cost savings from October through December 2016, APS’s first three months of participation in the western market.
“One of the main reasons we decided to participate in the Energy Imbalance Market was because of the potential for savings through the innovative and flexible new tools it provides,” said Tammy McLeod, Vice President of Resource Management for APS. “We are always looking for ways to save our customers money and, as anticipated, the EIM is providing us that opportunity.”
The EIM enables utilities across the western region to buy and sell energy more efficiently. The difference between participating in the EIM over traditional energy markets is that the EIM automatically finds the most efficient energy resources available if APS decides to buy or sell power in five minute increments. EIM’s real-time market capabilities help APS respond quickly to variable renewable energy production (like solar) and better incorporate renewable resources by automatically adjusting to intermittency.
Click here to view the full 2016 fourth-quarter EIM benefits assessment report.