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CA PX to Launch Hour-Ahead Bidding July 30

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 corporation.

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 volume.

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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