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CAISO: EDAM launch is working; panel points to early savings and independent governance steps
Summary
CAISO officials reported the extended day‑ahead market went live May 1 and is operating well in early months, citing $11,000,000 in savings from the first two participants' initial operations and describing the governance and FERC filing work required to scale the market.
The California Independent System Operator told a Senate committee that the extended day‑ahead market (EDAM), which went live May 1, has performed smoothly and produced measurable savings in its earliest weeks.
Elliot Mancer, CAISO's president and chief executive in the hearing record, credited a larger regional dispatch footprint with improved efficiency and said the market's "very early returns" show the market is functioning well. Joe Edo, CAISO board chair, highlighted the early dollar savings, saying there were "$11,000,000 in savings just with 2 participants" in the first months of EDAM operation.
CAISO and other panelists described more than 40 filings to FERC tied to EDAM design and said AB825 (as discussed in the hearing) requires certain consumer protections and assurance of state policy respect before tariff changes allow multistate operations. Panelists said they will not proceed with tariff submissions until the independent governance conditions and consumer protections are satisfactorily addressed.
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