The California Independent System Operator and Public Service Company of New Mexico (PNM) announced that PNM plans to join the Western Energy Imbalance Market (EIM) in April 2021.
The utility recently received necessary approvals from its state regulators to facilitate moving forward and the ISO and PNM have signed an EIM implementation agreement that will be filed with the Federal Energy Regulatory Commission in January, CAISO said on Dec. 20.
PNM, based in Albuquerque, is the largest electricity provider in New Mexico, serving more than 500,000 New Mexico residential and business customers. The utility manages about 2,580 megawatts of generation, including 800 megawatts of low or zero carbon resources.
The Western EIM, launched by the ISO in November 2014, is a voluntary real-time bulk power trading market serving more than 42 million consumers in eight western states, and extending to the border with Canada. CAISO said that as of September of this year, the Western EIM has produced more than $500 million in total gross cost benefits to participants since its start in November 2014.
Current EIM participants include Portland, Ore.-based PacifiCorp, NV Energy of Nevada, Arizona Public Service, Puget Sound Energy of Washington, Portland General Electric, Idaho Power and Powerex, the marketing arm of Canada’s BC Hydro.
Public power entities scheduled to begin participation include Balancing Authority of Northern California/Sacramento Municipal Utility District (2019), Seattle City Light (2020), Los Angeles Department of Water and Power (2020), Arizona’s Salt River Project (2020).
Investor-owned Northwestern Energy is scheduled to begin participation in 2021.