The California Independent System Operator (ISO) has signed an implementation agreement with Xcel Energy — Colorado, paving the way for the company’s participation in the Western Energy Imbalance Market (EIM) in 2022.
The agreement also provides participation for other Joint Dispatch Agreement (JDA) members: Black Hills Energy Colorado Electric, Colorado Springs Utilities and Platte River Power Authority.
The agreement will support the above utilities as they transition from the JDA to the Western EIM. The ISO will work with the partners to provide resource schedules, load forecasts and outage reporting.
Additionally, settlement documentation for each of the entities load and resources will be developed by the ISO for each partner. The ISO plans to conduct a stakeholder process to develop the tariff modifications for the provisions to be available to other entities as well.
Since its launch five years ago, the Western EIM has provided an estimated $919.79 million in gross benefits to its participants and have used 1,098,890 MWh of renewable energy. CO2 emissions were also reduced by 470,245 metric tons, according to the company.
“The addition of these Colorado utilities to a growing west wide market will benefit all of the participants and their customers,” said ISO President and CEO Steve Berberich. “We are pleased the Xcel Energy — Colorado and its other JDA partners have confidence in the market which shares carbon-free energy resources, market efficiency and enhanced reliability.”
Alice Jackson, president of Xcel Energy — Colorado said, “Participating in this market will support our efforts to keep customer bills low while providing them with more 100% carbon-free energy from wind and solar resources.”
To learn more about the energy imbalance market, play the video below: