Utilities in the West and their customers have saved more than $45 million through the creation of an energy imbalance market over the past 18 months, says Angelina Galiteva, a member of the California ISO Board of Governors.
The market enables energy transfers across several western states, and enables renewable energy to be moved and consumed most efficiently, flowing from areas where there may be lesser demand to regions where it is most needed, she said.
Such efforts will be crucial as California drives towards achieving its goal of obtaining 50 percent of its electricity from renewables.
“A wider geographic footprint helps everybody,” Galiteva said.
The energy imbalance market allows for the automated dispatch of renewables, resolving imbalances and avoiding congestion on a 5-minute basis.
A number of additional market participants are expected to join the program in the coming years. With the participation of these parties, it is estimated that the energy imbalance market could save participants up to $129 million annually beginning in 2017, according to Galiteva.
EDITOR'S NOTE: Angelina Galiteva, a member of the California ISO Board of Governors, will be among energy policy and utility leaders addressing the California Renewables Rush executive conference in San Francisco on April 6.