PGE launches day-ahead energy market operations, unlocking new savings for customers

Portland, Ore - Portland General Electric today began buying and selling energy through the California Independent System Operator's (CAISO) new Extended Day-Ahead Market (EDAM), putting years of technology investment and regional collaboration to work for customers.

PGE is among the first utilities to participate in EDAM, which allows participating utilities to buy and sell energy in the day-ahead timeframe. Participation could save PGE customers approximately $14 million annually once the market is fully built out by optimizing supply, demand and transmission across a broader geographic footprint. In addition to lower costs, EDAM participation improves reliability and supports greater use of renewable energy.

"PGE has been long preparing for a reginal energy system that is dynamic and interconnected," said Maria Pope, president and CEO of Portland General Electric. "Our early investments in advanced systems and operational capabilities as well as regional collaboration have positioned us to lead while staying focused on reliable service and affordability."

EDAM builds on years of preparation at PGE. At its Integrated Operations Center in Tualatin, Ore., the company has invested in the technology, systems and operational expertise needed to manage an increasingly dynamic energy system. Since joining the Western Energy Imbalance Market (WEIM) in 2017, PGE has generated approximately $377 million in cumulative benefits for customers. The imbalance market, which is a real-time market operating in 15-minute and 5-minute intervals, has grown to include 24 participating entities serving nearly 80 percent of electricity demand in the West. That scale gives utilities a foundation to unlock even greater savings by expanding into the day-ahead market.

"PGE's participation in EDAM reflects the growing momentum behind regional market collaboration in the West," said Elliot Mainzer, president and CEO of the California ISO. "The addition of PGE expands resource diversity and strengthens the market's ability to deliver economic and reliability benefits to participants and their customers."

PGE's decision to join EDAM followed years of evaluating regional market options and active participation in EDAM's design. Studies commissioned by PGE concluded that EDAM offered greater economic benefits than alternative market options. EDAM also enables more efficient use of the diverse energy resources available across the West, including hydropower and wind from the Pacific Northwest and solar generation from California and the desert Southwest.