PORTLAND, Ore. — PacifiCorp, which operates as Rocky Mountain Power throughout Utah, Wyoming, and Idaho, announced today that it has joined the Extended Day-Ahead Market (EDAM) and the Western Power Pool’s Western Resource Adequacy Program (WRAP) initiatives.
The EDAM builds upon the existing Western Energy Imbalance Market (WEIM), which optimizes energy imbalances throughout the western U.S. by transferring
energy between participants in 15-minute and 5-minute intervals throughout the day.
According to PacifiCorp, The proposed EDAM builds on the WEIM by extending optimization to a high volume of resource commitments that must be made a day in advance, which are then re-optimized in the real-time WEIM as conditions change.
“The new day-ahead energy market strikes the right balance between bringing together the best resources the West has to offer while ensuring local independence for participants,” Gary Hoogeveen, president and CEO of Rocky Mountain Power, said in a press release. “PacifiCorp is committed to advancing innovation in markets and new energy technologies to meet its commitment to affordability and reliability while supporting its communities throughout the energy transition.”
The EDAM is set to begin operations in 2024, contingent on federal regulatory approval. The launch of the EDAM will join together PacifiCorp and the California Independent System Operator (CAISO), the two largest grid operators in the western U.S.
The WRAP is managed by the Western Power Pool, and is expected to provide region-wide reliability benefits to it participants by pairing regional diversity with common resource planning standards.
“The common planning standards and increased regional collaboration will create a pool of resources that can be used to serve load, if needed, thus increasing reliability for the entire region,” said a press release from PacifiCorp. “PacifiCorp sees WRAP as a vital component of a modernized Western grid.”
“EDAM, WEIM and WRAP will work together to ensure the benefits and certainty needed to meet our customers’ growing demands for a reliable and clean grid,” Stefan Bird, president and CEO of Pacific Power, the PacifiCorp division that serves customers in Oregon, Washington and California, said in a press release. “We are extremely excited to work with our partners to move the region forward into greater collaboration and secure even more benefits for customers.”