California’s spot wholesale power market will add hour-aheadbidding beginning at noon July 30, according to a notification fromthe power exchange (PX) to the Federal Energy Regulatory CommissionJuly 15. FERC requires 15-day advance notice before new servicesare offered by the state-charter nonprofit public benefitscorporation.

In a separate announcement, the PX reported it now has 41participants, which collectively account for more than 90% of theelectricity volume scheduled through the state independent systemoperator (ISO), another state-chartered public benefits nonprofitthat operates the state transmission grid owned by California’sthree major investor-owned electric utilities. Another two dozenfirms are currently “in various stages of the (PX)member-certification process,” according to a PX spokesperson.

PX CEO George Sladoje expressed confidence that the newhour-ahead market will provide “participants an additional auctionprocess to purchase or sell energy closer to the hour of delivery,”but he expects the day-ahead will remain the largest tradingvolume.

The PX has been staffed on a 24-hour basis since it opened March31 this year, but with the day-ahead trading it now will conductoverlapping auction processes-the day-ahead at 7 a.m. each morningand three simultaneous hour-ahead auctions. For each hour in theday, hourly bids will be received up to three hours prior to thetime the electricity is actually delivered.

Richard Nemec, Los Angeles

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