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G-PST/ESIG Webinar Series: An Imbalance Reserve Product to Manage Uncertainty between the Day-ahead and Real-time Markets
January 31, 2024 @ 4:00 pm - 5:00 pm EST
Featured Speaker: James Friedrich, Lead Policy Developer, CAISO
James Friedrich
About the Webinar: This presentation highlights the California Independent System Operator’s (CAISO) new “imbalance reserve product”. This product aims to tackle net load forecast uncertainties by reserving flexible ramping capacity. This product will help the CAISO address the challenges of integrating variable loads and renewable energy. CAISO will allow bidding for these reserves, procuring them in the Day-Ahead Market, and co-optimizing them with energy and ancillary services, boosting market efficiency and reliability.
About the Speaker: James Friedrich is a Lead Policy Developer for the California Independent System Operator (CAISO) working on market design. James led the policy development of the Day-Ahead Market Enhancements (DAME) initiative, which the CAISO Board of Governors and Western Energy Imbalance Market Governing Body approved in May 2023. This initiative introduces a new day-ahead market product called Imbalance Reserves, designed to reserve capacity for forecast uncertainty and ramping needs arising between the day-ahead and real-time markets.
Moderator: Julia Matevosyan, Chief Engineer, ESIG
Registration Cost: FREE
Q&A Session: We will be using the slido platform for Q&A. Please submit your questions and follow-along during the event at this link.
