"This coming year, a new energy trading market with its first participants is set to go online - a rollout that experts promise will lower monthly home electric bills and supercharge states' green-energy production."
"The West currently trades its energy in what's known as a "spot market," where states and municipalities have only 15 minutes to offload their excess solar and wind power to other regions. The new market will widen that timeframe to a full day, giving western states more time to decide where unused energy should go and better prepare for sunny and windy days."
""Curtailment is, by definition, a market failure," Michael Colvin, who leads California energy policy for the Environmental Defense Fund, told SFGATE. "It is a moment of last resort, of saying, 'We've got to keep the system in balance. We have charged all the batteries we can charge. We have sold all the power that we can sell.'" This "market failure" is a regular occurrence of California energy waste."
California will join a Western day-ahead energy trading market that expands the current 15-minute spot trading window to a full day. The expanded market will allow western states to plan where excess solar and wind power flows, reduce the need to curtail generators, and better prepare for high-generation sunny and windy days. The change is expected to lower residential electric bills and increase regional clean-energy utilization. California's advanced grid operator, large renewable capacity, and recent legislation signed by Gov. Gavin Newsom enable the state to lead the market. In 2024 California curtailed 3.4 million megawatt-hours of solar and wind, a 29% increase.
Read at SFGATE
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