Alternative Power Plays Exploring Western Energy Market Evolution
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Oct 16, 2024 Join energy experts John Tsoukalis, a Principal at Brattle Group specializing in electric market modeling, and Metin Celebi, also a Principal at Brattle, who focuses on resource planning and climate policy. They discuss the evolution of the Western electricity markets, highlighting the benefits of extended day-ahead markets and Markets+. The conversation dives into differences with Eastern U.S. deregulation, the impact of organizational maturity, and the vital role of regional cooperation in enhancing energy efficiency and customer savings.
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Western Energy Market Developments Overview
- Four key market developments are happening in the Western Electricity Coordinating Council (WECC): Extended Day-Ahead Market (EDAM), Markets+, RTO West, and Western Resource Adequacy Program (RAP).
- These markets aim to improve regional cooperation, resource adequacy, and customer cost savings.
Resource Adequacy Program (RAP)
- The Western Resource Adequacy Program (RAP) offers a common framework for resource adequacy, allowing utilities to share resources and reduce costs.
- This addresses the increasing challenges of resource adequacy due to load growth and retirement of thermal resources.
EDAM vs. Markets+
- EDAM and Markets+ are similar day-ahead markets, extending real-time energy imbalance market functionality.
- A key difference is Markets+ requires members to join RAP, while EDAM does not.