CA PX to Launch Hour-Ahead Bidding July 30
California's spot wholesale power market will add hour-ahead
bidding beginning at noon July 30, according to a notification from
the power exchange (PX) to the Federal Energy Regulatory Commission
July 15. FERC requires 15-day advance notice before new services
are offered by the state-charter nonprofit public benefits
In a separate announcement, the PX reported it now has 41
participants, which collectively account for more than 90% of the
electricity volume scheduled through the state independent system
operator (ISO), another state-chartered public benefits nonprofit
that operates the state transmission grid owned by California's
three major investor-owned electric utilities. Another two dozen
firms are currently "in various stages of the (PX)
member-certification process," according to a PX spokesperson.
PX CEO George Sladoje expressed confidence that the new
hour-ahead market will provide "participants an additional auction
process to purchase or sell energy closer to the hour of delivery,"
but he expects the day-ahead will remain the largest trading
The PX has been staffed on a 24-hour basis since it opened March
31 this year, but with the day-ahead trading it now will conduct
overlapping auction processes-the day-ahead at 7 a.m. each morning
and three simultaneous hour-ahead auctions. For each hour in the
day, hourly bids will be received up to three hours prior to the
time the electricity is actually delivered.
Richard Nemec, Los Angeles
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