FERC has granted a request from the California ISO to extend the deadline by which CAISO must comply with the higher offer caps under Order No. 831 in RM16-5

On May 1, 2017, the California Independent System Operator Corporation (CAISO) filed a motion for extension of time to comply with the Final Rule in RM16-5 until May 1, 2018.

Order No. 831 requires regional transmission organizations (RTOs) and independent system operators (ISOs) to amend their tariffs to cap incremental energy offers at the higher of $1,000/megawatt hour (MWh) or a resource’s verified-cost based offer and to cap verified cost-based incremental energy offers at $2,000/MWh when calculating locational marginal prices (LMPs)

As part of such rule, each regional transmission organization (RTO) and independent system operator (ISO) was directed to implement a process to timely verify cost-based incremental energy offers above $1,000/MWh prior to using those offers to calculate locational marginal prices. CAISO stated that, unlike other RTOs and ISOs, it does not currently have a process to verify supplier costs prior to market clearing that it could build on to verify cost-based incremental energy offers.

CAISO stated that an extension of its obligation to comply with the rule would enable it to develop and implement provisions necessary to verify cost-based energy offers over $1,000/MWh through the stakeholder process that was already ongoing at the time the Final Rule was issued, and in which CAISO and its stakeholders are considering substantially similar issues.

"Upon consideration, notice is hereby given that CAISO’s motion is granted, extending the deadline for CAISO to comply with the Final Rule to and including May 1, 2018," FERC said in a notice from the Secretary.

Tags:
California. Offer Caps   Wholesale   CAISO  

Comment on this story


ADVERTISEMENT
NEW Jobs on RetailEnergyJobs.com
TPV-SALES-EXECUTIVE -- Back Office Provider -- Other
Sr-Market-Risk-Analyst -- Wholesale Supplier/Trader -- New York - New York City Metro
Head-of-Retail-Operations -- Wholesale Supplier/Trader -- Other
Energy-Regulatory-Specialist -- Other -- Other
More Stories on RetailEnergyX.com:
FERC Orders $230 Million In Penalties Against GreenHat, Related Parties '
UK Retail Supplier With US Affiliate In Talks To Secure 'New Funding'; Wholesale Prices Challenge
FERC Issues Show Cause Order To GreenHat With Proposed $229 Million Fine For Alleged 'Manipulation'
Southeast Utilities Propose Centralized Intra-Hour Wholesale Electricity Exchange Market
FERC Accepts Tariffs For ISO-NE Inventoried Energy Program; Costs Assigned To Retail Suppliers/Load