Feb 12 (Reuters) - The California Independent System Operator and PacifiCorp have signed an agreement to expand the real-time energy imbalance market to take advantage of growing renewable resources in the U.S. West, officials said Tuesday.
“Increased coordination of energy systems in the West is critical if we are to meet important challenges such as ensuring reliability, keeping costs down for customers and effectively integrating renewable resources,” Greg Abel, chief executive of Portland-based PacifiCorp, said in a statement.
Pacificorp, a unit of MidAmerican Energy Holdings Co, operates utilities in California, Oregon, Washington, Utah, Wyoming and Idaho.
Through more frequent dispatch of power generation to match actual electric demand across a broader geographic region, officials said the voluntary energy-imbalance market will better utilize the growing amount of available wind and solar power.
The memorandum of understanding signed by PacifiCorp and the ISO is expected to lead to a formal agreement to be considered by the ISO Board of Governors in March.
The groups plan to implement the expanded imbalance market by October 2014.
MidAmerican is a unit of Warren Buffett’s Berkshire Hathaway .