FERC accepted CAISO’s proposal to allow for storage resources to bid above the ISO’s $1,000/MWh soft offer cap in the real-time market to account for their intraday opportunity costs.

CAISO’s Board of Governors and WEIM Governing Body unanimously voted to approve an expedited proposal to increase the ISO’s soft offer cap from $1,000/MWh to $2,000.

CAISO staff and stakeholders are looking to address an inconsistency in how the ISO tests for structural market competitiveness inside and outside of its balancing authority area in the Western Energy Imbalance Market.