CAISO helps advance green energy in California
“I am delighted the ISO Board approved our proposal to provide renewable resources a solid foundation to grow on our grid,” said Steve Berberich, ISO President and CEO. “It is gratifying to evolve the market so that it embraces the unique way variable renewable resources operate to the benefit of all.”
The new structure keeps the current 5-minute dispatch approach for internal ISO resources and some imported energy, which greatly reduces implementation complexity, time and costs by using existing system functionalities. It is also compatible with the proposed ISO/PacifiCorp energy imbalance market.
The proposal also spells out a timeframe for re-implementing convergence bidding, which is a tool that participants can use to hedge their risks and stabilize real-time prices. The enhancements would enable the ISO to begin using the new approach in spring of next year, once approved by federal regulators.
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N.S. joins Western Climate Initiative for tech support for emissions plan
HALIFAX - Nova Scotia is yet to set targets for its new cap and trade regime to reduce greenhouse gases, but the province announced Monday that it has joined the Western Climate Initiative Inc. -- a non-profit corporation formed to provide administrative and technical services to states and provinces with emissions trading programs.
Environment Minister Iain Rankin said joining the initiative would allow the province to use its IT system to manage and track its new cap and trade program.
Rankin said the province can join without trading greenhouse gas emission allowances with other jurisdictions -- California, Quebec, and Ontario are currently…