The California Independent System Operator Corp. (California ISO) says its board of governors has approved a proposed market design change to help foster renewable development on the grid.
Once approved by federal regulators, the ISO says the new design will give generators the option to schedule power in 15-minute intervals that allow variable resources to better forecast and schedule their green energy.
‘I am delighted the ISO board approved our proposal to provide renewable resources a solid foundation to grow on our grid,’ says Steve Berberich, ISO president and CEO. ‘It is gratifying to evolve the market so that it embraces the unique way variable renewable resources operate to the benefit of all.’
The new structure keeps the current five-minute dispatch approach for internal ISO resources and some imported energy, greatly reducing implementation complexity, time and costs by using existing system functionalities, the ISO explains.
The proposal spells out a timeframe for re-implementing convergence bidding, which is a tool that participants can use to hedge their risks and stabilize real-time prices. The enhancements would enable the ISO to begin using the new approach in spring of next year, after federal approval.