NV Energy joins on-demand market
NV Energy won approval last week from the Public Utilities Commission of Nevada to participate in the expanded Energy Imbalance Market which automatically optimizes resources across a wide geographic region and in turn reduces energy costs.
The system uses technology provided by the California Independent System Operator to analyze supply and demand in the West and dispatch the lowest cost resources to meet energy needs every five minutes.
The technology is particularly effective in using the excess generation produced by wind and solar resources when weather conditions are especially favorable for generation that otherwise would go unused. in October 2015.
“Renewable resources vary with the weather and by having a large pool of resources to draw upon means we are better able to smooth out the variability in power flows caused by changing conditions,” said Walter Spansel, vice president of transmission for NV Energy.
The market’s first participant, Portland-based PacifiCorp, will enter the Energy Imbalance Market in October. NV Energy will begin participating in October 2015.
The rate effective Jan. 1, 2020, is 1.65 percent of wages paid to employees. That is two-tenths of a percent lower than the current rate, giving a significant break to businesses that pay the tax.