Four Colorado utilities join Western Energy Imbalance Market
Four Colorado utilities are joining the Western Energy Imbalance Market (WEIM), operated by the California Independent System Operator (CAISO).
The energy imbalance market allows energy from multiple power providers to be dispatched at the lowest possible cost to serve the combined customer demand of the region. It fosters the use of more wind and solar energy and will save customers money.
The four utilities that are joining are Xcel Energy, Black Hills Colorado Electric, Colorado Springs Utilities, and Platte River Power Authority. All share a commitment to clean energy and believe the WEIM will provide the most benefit to their Colorado customers.
Currently, Xcel Energy, Black Hills Colorado Electric, and Platte River Power Authority share resources and balance demand through a joint dispatch agreement (JDA). In March 2020, Colorado Springs Utilities will begin participation in this joint dispatch agreement.
“This decision is an important next step in our efforts to keep our customers’ bills low and provide more 100 percent carbon-free energy like wind and solar,” Alice Jackson, president of Xcel Energy Colorado, said. “We are pleased to continue this regional collaboration of investor-owned utilities and public power agencies to benefit our customers, the environment, and support the state of Colorado in achieving its clean energy goals.”
The group will be working with the ISO to finalize the agreement and settle on a date to join the market. The target time frame is 2021.
“By joining with our regional utility partners in this effort, we have the opportunity to create value for our customers,” Vance Crocker, vice president of Black Hills Colorado Electric., doing business as Black Hills Energy, said. “We’re very supportive of a plan that will lead to lower energy costs and more renewable energy options for our customers and communities.”
Jason Frisbie, CEO of Platte River Power Authority, said the EIM will expand the regional collaboration among all partners.
“We are committed to offering our customers clean, more diverse, and affordable energy,” Aram Benyamin, Colorado Springs Utilities CEO, said. “This regional partnership provides us the opportunity to integrate more renewable energy into our system at a lower cost.”
