As anticipated, Energy Imbalance Market results in efficiencies and savings

Company Website: http://aps.com
PHOENIX -- (Business Wire)

APS customers benefitted from more than $30 million in savings in the company’s first year in the western regional Energy Imbalance Market (EIM). According to a new report released by the California Independent System Operator, APS saved more than $11 million from July through September 2017, which puts the first-year savings total at $30.5 million.

“Participating in the Energy Imbalance Market has allowed us to garner efficiencies that weren’t possible a year ago,” said Brad Albert, APS Vice President of Resource Management. “We’ve lowered production costs and the costs of integrating renewable resources like solar, and we’ve taken advantage of negatively priced (surplus) power from other states. Participating in the EIM is one of the many ways we’re providing customers with a cleaner and smarter system to meet their changing energy needs.”

The EIM enables energy companies across the western region to buy and sell energy more efficiently, lowering the cost of keeping the lights on. While APS’s power plants continue to be the first and primary source of energy to meet APS customer demand, the difference between the EIM and traditional, less flexible energy markets is that the EIM automatically finds the most efficient energy resources available (in increments as small as five minutes) if APS decides to buy or sell power in the marketplace.

When APS first began participation in the EIM in October 2016, the company projected annual savings between $7 and $18 million a year for customers. Through efficient trading operations, APS’s first year reality far exceeded the initial projection. All savings go back to customers through an adjustment on their bill called the Power Supply Adjustor (PSA).

Click here to view the EIM’s quarterly benefits assessment reports.

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 cleanest energy portfolios, including both Palo Verde Generating Station and renewable 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).

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Contacts:

APS
Media Contact:
Anna Stewart, 602-250-2104
Analyst Contact:
Stefanie Layton, 602-250-4541
Website: aps.com/newsroom

Source: APS