Portland General Electric joins western Energy Imbalance Market
Real-time market now serves 38 million consumers in eight western states
Oct. 2, 2017
FOLSOM, Calif. | Portland, Ore. — Portland General Electric Company (NYSE: POR) on Oct. 1 became the fifth western utility to successfully begin full participation in the western Energy Imbalance Market (EIM). The Oregon utility and the California Independent System Operator (ISO) recently completed several weeks of extensive systems testing – the culmination of two years of preparatory work and coordination – and have certified that PGE is ready for financially-binding participation in the only multi-state real-time energy market in the West.
The ISO estimates significant cost benefits have been produced for members since the EIM launched in November 2014, by effectively using the low-cost energy available in the region to meet changes in real-time energy demand. That’s in addition to carbon-reductions achieved through efficient dispatch of renewable resources. Those savings are projected to increase as more utilities join the market.
“The EIM is stronger with the addition of PGE, and we welcome its participation,” said Steve Berberich, ISO President and CEO. “The real-time energy market supports its participants by offering access to low-cost energy regardless of their location, a tool to help meet clean energy goals and boosts grid reliability — so it is a win-win for everyone, including consumers.”
For more than 125 years, PGE has been serving the greater Portland region that now has nearly 2 million residents.
“To benefit our customers, PGE is working to help build a smarter, cleaner, more resilient energy grid,” said Maria Pope, PGE’s president and incoming CEO. “Joining the EIM is an important milestone in that effort, helping maintain reliability and keep power affordable while making efficient use of carbon-free renewable resources throughout the region.”
The EIM uses state-of-the-art software to analyze regional grid needs and make available low-cost generation to meet demand every five minutes. Participating utilities save money by drawing automatically on the least-cost generating option available to meet short-term variations in their customers’ power use. This also allows participants to maximize the use of renewable resources, by making it easier to take immediate advantage of available wind and solar generation anywhere in the system while efficiently integrating their variable output with other, dispatchable resources.
PGE joins Arizona Public Service, Puget Sound Energy, NV Energy, PacifiCorp and the ISO, together serving over 38 million consumers in California, Arizona, Oregon, Washington, Utah, Idaho, Wyoming and Nevada.
Future EIM participants include Idaho Power and Canada’s Powerex, which will enter the market in April 2018, followed by Seattle City Light, Los Angeles Department of Water & Power and the Balancing Authority of Northern California/Sacramento Municipal Utility District in 2019, and Salt River Project in 2020.
For more information, see the EIM webpage.
Fore more information contact Steven Greenlee, western Energy Imbalance Market, 888-516-6397
For more information contact Steve Corson, PGE, 503-464-8444, Steven.Corson@pgn.com