Siemens (ETR:SIE) has provided software for the western Energy Imbalance Market (EIM) launched by the California Independent System Operator (ISO) in November 2014, the German engineering group said on Tuesday.
The real-time EIM supports the integration of renewables such as wind and solar by allowing utilities to more efficiently exchange and share energy resources. Siemens said its energy market management software is a key element of the EIM system that enables the ISO to analyse the energy needs of the grid every five minutes and determine the lowest-cost generation to meet demand.
"The EIM is a fantastic opportunity for regional entities to share resources and lower cost of renewable integration for the benefit of electric customers throughout the west," said ISO president and chief executive Steve Berberich.
According to the announcement, the EIM has delivered benefits of over USD 11 million (EUR 9.8m) in its first five months for the ISO and its first and current participant, Pacificorp, which operates in six western states -- California, Oregon, Washington, Utah, Idaho and Wyoming. Arizona Public Service (APS), which is to join the EIM in October 2016, is expected to see between USD 7 million and USD 18 million in annual energy production savings. NV Energy will enter the market later this year, while Puget Sound Energy plans to do so in the autumn of 2016.