Energy Imbalance Market enables APS to operate more efficiently,
better integrate renewables
Company Website:
http://aps.com
PHOENIX -- (Business Wire)
On Oct. 1, three energy traders from Arizona Public Service Co. sat in
front of 24 computer screens and successfully completed their first
transaction as a participant in the western regional Energy Imbalance
Market (EIM). While doing business with other utilities isn’t new for
APS, the EIM enables the company to buy and sell power in increments as
small as five minutes, garnering efficiencies that are not possible with
traditional hour-ahead trading practices. APS expects this difference in
trading efficiency could result in savings between $7 million and $18
million a year for customers.
This Smart News Release features multimedia. View the full release here:
http://www.businesswire.com/news/home/20161003006186/en/
Three of Arizona Public Service Company’s power traders work on the company’s Marketing and Trading floor to complete one of APS's first transactions as a participant in the western regional Energy Imbalance Market (EIM). The EIM enables utilities across the western region to buy and sell energy more efficiently, significantly lowering the cost of keeping the lights on. (Photo: Business Wire)
“Participating in a market that enables APS to buy and sell power closer
to when electricity is consumed will result in meaningful economic
savings to customers through lower production costs and better
integration of renewable resources like solar,” said Tammy
McLeod, Vice President of Resource Management for APS. “We are
always looking for ways to operate more efficiently and cost-effectively
and we believe the EIM provides us that opportunity.”
The EIM enables utilities across the western region to buy and sell
energy more efficiently, significantly lowering the cost of keeping the
lights on. While APS’s power plants will continue to be the first and
primary source of energy to meet APS customer demand, the difference
between participating in the EIM over the traditional, less flexible
energy markets is that the EIM automatically finds the most efficient
energy resources available if APS decides to buy or sell power in the
marketplace. EIM’s real-time market capabilities will help APS respond
quickly to variable renewable energy production and better incorporate
renewable resources by automatically adjusting to intermittency.
“Any proven technology that allows us to be innovative and flexible in
the way we power our customers’ lives – while cutting costs – is
important to Arizona’s energy future,” said McLeod. “Our decision to
participate in the EIM is another example of how we’re providing our
customers with a cleaner, stronger and smarter system to meet their
changing energy needs.”
The California Independent System Operator (ISO) and PacifiCorp launched
the regional EIM on Nov. 1, 2014. Since then, participants have realized
combined benefits of over $88 million.
“Participants in the EIM have seen considerable benefits since the
market was launched in 2014,” said Steve Berberich, President and CEO of
the ISO. “Broader utility participation across the West means increased
access to diverse resources which translates into benefits for
customers.”
Currently, the EIM automatically dispatches least-cost energy in real
time in California, Oregon, Washington, Nevada, Utah, Idaho and Wyoming.
Portland General Electric is scheduled to join the EIM in 2017 followed
by Idaho Power in 2018. Today’s announcement marks the third and fourth
entities to join the EIM (Puget Sound Energy also launched its EIM
participation on Oct. 1), extending its reach across eight states.
APS
serves about 2.7 million people in 11 of Arizona’s 15 counties, and is
the Southwest’s foremost producer of clean, safe and reliable
electricity. Using a balanced energy mix that is nearly 50 percent
carbon-free, APS has one of the country’s most substantial renewable
energy portfolios, and owns and operates the Palo Verde Nuclear
Generating Station, the country’s top power producer and largest
producer of carbon-free energy. The company is also a proven leader in
introducing technology and services that offer customers choice and
control over their energy consumption. With headquarters in Phoenix, APS
is the principal subsidiary of Pinnacle
West Capital Corp. (NYSE: PNW).
View source version on businesswire.com: http://www.businesswire.com/news/home/20161003006186/en/
Contacts:
APS
Media Contact:
Anna Haberlein, 602-250-2104
Website: aps.com/newsroom
Source: APS
© 2024 Canjex Publishing Ltd. All rights reserved.