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The Federal Energy Regulatory Commission (FERC) has approved the implementation agreement between the California Independent System Operator Corp. (CAISO) and PacifiCorp that establishes the scope and schedule for a variety of tasks the parties will undertake to launch an energy imbalance market (EIM) by October 2014.

Among its provisions, the implementation agreement establishes procedures for PacifiCorp to pay CAISO a $2.1 million fixed start-up fee to enable PacifiCorp to participate in CAISO's existing EIM. The implementation agreement was filed with FERC on April 30.

CAISO also issued a revised "straw proposal" that sets forth the proposed structure and rules for operation of the EIM. The market design reflects changes made in response to stakeholder feedback regarding earlier versions. Among the changes are extensions to the time external parties will have to review and offer comments to the market design rules before they are finalized and submitted to the CAISO board of governors to consider in November.

In February, CAISO and PacifiCorp announced a partnership to add PacifiCorp’s two balancing authorities covering portions of six western states to the existing EIM operated by CAISO in California. CAISO says the EIM is intended to reduce operational expenses for both parties through the dispatch of resources within and between balancing authorities, the ability to share the need to hold flexibility reserves and reduced curtailment of renewable generation sources.



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