The California Independent System Operator Corporation (ISO) Board of Governors has approved a proposal that outlines the governance structure for the Energy Imbalance Market, a real-time energy wholesale market that automatically dispatches the lowest cost electricity resources while optimizing use of renewable energy over a large geographic area.
The EIM governing body will oversee and approve market rules in EIM related matters before approval by the ISO Board of Governors.
The approved governance structure was developed by the EIM Transitional Committee, which consists of members from throughout the west and is chaired by Commissioner Rebecca Wagner of the Public Service Commission of Nevada.
The approved governance structure includes the following attributes, among others:
• establishment of a regionally-minded EIM governing body with delegated authority over market rules of the EIM;
• the governing body would be comprised of five members, financially independent of stakeholders;
• nominees for the governing body would be identified by a nominating committee comprised of stakeholder representatives;
• the governing body would represent all real-time market participants’ interests, regardless of where they are located; and
• changes in EIM-specific market rules must be approved by the governing body and the ISO Board before they are filed with the Federal Energy Regulatory Commission.