Power transmission line in California. Author: Keoni Cabral. License: Creative Commons, Attribution 2.0 Generic.
The western Energy Imbalance Market (EIM) now has five participants with the addition of Portland General Electric Co (NYSE:POR), or PGE.
The Oregon utility, which serves the greater Portland region with almost 2 million residents, started full participation in the real-time energy market on October 1 after two years of preparation.
The EIM, operated by the California Independent System Operator (ISO), now serves 38 million consumers in eight states in the West. More utilities are set to join in the coming years.
The market was launched in 2014 and is delivering cost benefits to its members by using the low-cost energy available in the region to meet changes in real-time energy demand. It also provides for efficient use of renewable resources in the region.
Besides PGE and the ISO, the EIM also includes Arizona Public Service, Puget Sound Energy, NV Energy and PacifiCorp.