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Department of Market Monitoring Update Eric Hildebrandt Director, Department of Market Monitoring EIM Governing Body Meeting General Session February 1, 2017 Prices in new EIM areas tracking closely with other adjacent EIM areas $40

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Department of Market Monitoring Update

Eric Hildebrandt Director, Department of Market Monitoring EIM Governing Body Meeting General Session February 1, 2017

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Prices in new EIM areas tracking closely with other adjacent EIM areas

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$0 $10 $20 $30 $40 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2015 2016 Average monthly price ($/MWh) PacifiCorp East Arizona Public Service PacifiCorp West Puget Sound Energy NV Energy

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Prices in APS area tracking closely with SCE area prices and net load

15-minute prices (October – December)

$0 $10 $20 $30 $40 $50 $60 $70 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Average hourly price ($/MWh) SCE NV Energy Arizona Public Service

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Average prices in PSE area lower than PG&E area due to congestion and GHG costs

15-minute prices (October – December)

$0 $10 $20 $30 $40 $50 $60 $70 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Average hourly price ($/MWh)

PG&E PacifiCorp West Puget Sound Energy

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Growth in EIM transfer capacity significantly increases market competiveness

Puget

300 MW 300 MW

PacifiCorp West

109 MW 153 MW

CAISO

896 MW 857 MW

NV Energy

2,400 MW 3,600 MW

APS PacifiCorp East

503 MW 708 MW 0 MW* 179 MW 400 MW 566 MW

Total average transfer capacity (Oct 2016 – Jan 2017)*

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EIM transfers usually out of APS into CAISO, while PSE transfers into and out of PacifiCorp West

Puget

42 MW (49%) 47 MW (50%)

PacifiCorp West

37 MW (31%) 92 MW (67%)

CAISO

84 MW (32%) 127 MW (52%)

NV Energy

262 MW (80%) 21 MW (15%)

APS PacifiCorp East

14 MW (9%) 197 MW (75%) 39 MW (43%) 115 MW (51%) 41 MW (28%)

Average final EIM transfers (Oct 2016 – Jan 2017)*

* Percentages show intervals with transfer in each direction.

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Congestion into EIM areas continues to be infrequent

Puget

2%

(187 MW)

5%

(70 MW)

PacifiCorp West

18%

(157 MW)

5%

(212 MW)

CAISO

1% MW (409 MW) 1%

(106 MW)

NV Energy

9% (186 MW) 3% (187 MW)

APS

PacifiCorp East

2%

(148 MW)

7%

(443 MW)

8% (63 MW) 13%

(54 MW)

10%

(81 MW)

Frequency of 15-minute congestion in (Oct 2016 – Jan 2017)*

* Average transfer MW during congested intervals in parentheses.

47% (0 MW)

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EIM areas rarely separated from CAISO by congestion

Puget PacifiCorp West

5%

(212 MW)

CAISO

1% MW (409 MW)

NV Energy

3% (187 MW)

APS

PacifiCorp East

2%

(148 MW)

8% (63 MW) 10%

(81MW)

Frequency of congestion in 15-minute market (Oct 2016 – Jan 2017)*

* Average transfer MW during congested intervals in parentheses.

47% (0 MW)

Slide 8

Department of Market Monitoring Update

Eric Hildebrandt Director, Department of Market Monitoring EIM Governing Body Meeting General Session February 1, 2017

Prices in new EIM areas tracking closely with other adjacent EIM areas

$0 $10 $20 $30 $40 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2015 2016 Average monthly price ($/MWh) PacifiCorp East Arizona Public Service PacifiCorp West Puget Sound Energy NV Energy

Prices in APS area tracking closely with SCE area prices and net load

15-minute prices (October – December)

$0 $10 $20 $30 $40 $50 $60 $70 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Average hourly price ($/MWh) SCE NV Energy Arizona Public Service

Average prices in PSE area lower than PG&E area due to congestion and GHG costs

15-minute prices (October – December)

$0 $10 $20 $30 $40 $50 $60 $70 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Average hourly price ($/MWh)

PG&E PacifiCorp West Puget Sound Energy

Growth in EIM transfer capacity significantly increases market competiveness

Puget

300 MW 300 MW

PacifiCorp West

109 MW 153 MW

CAISO

896 MW 857 MW

NV Energy

2,400 MW 3,600 MW

APS PacifiCorp East

503 MW 708 MW 0 MW* 179 MW 400 MW 566 MW

Total average transfer capacity (Oct 2016 – Jan 2017)*

EIM transfers usually out of APS into CAISO, while PSE transfers into and out of PacifiCorp West

Puget

42 MW (49%) 47 MW (50%)

PacifiCorp West

37 MW (31%) 92 MW (67%)

CAISO

84 MW (32%) 127 MW (52%)

NV Energy

262 MW (80%) 21 MW (15%)

APS PacifiCorp East

14 MW (9%) 197 MW (75%) 39 MW (43%) 115 MW (51%) 41 MW (28%)

Average final EIM transfers (Oct 2016 – Jan 2017)*

* Percentages show intervals with transfer in each direction.

Congestion into EIM areas continues to be infrequent

Puget

2%

5%

PacifiCorp West

18%

5%

CAISO

1% MW (409 MW) 1%

NV Energy

9% (186 MW) 3% (187 MW)

APS

PacifiCorp East

2%

7%

8% (63 MW) 13%

10%

Frequency of 15-minute congestion in (Oct 2016 – Jan 2017)*

* Average transfer MW during congested intervals in parentheses.

47% (0 MW)

EIM areas rarely separated from CAISO by congestion

Puget PacifiCorp West

5%

CAISO

1% MW (409 MW)

NV Energy

3% (187 MW)

APS

PacifiCorp East

2%

8% (63 MW) 10%

Frequency of congestion in 15-minute market (Oct 2016 – Jan 2017)*

* Average transfer MW during congested intervals in parentheses.

47% (0 MW)

EIM area prices separated from CAISO by congestion

Net exporter Net importer Import congestion from ISO* EIM area

Frequency Average MW Frequency Average MW 15-minute 5-minute

California ISO 19% 494 81%

PacifiCorp East 83% 399 17%

1% 1% PacifiCorp West 58% 123 42%

5% 7% NV Energy 30% 145 70%

1% 0% Puget Sound Energy 49% 107 50%

1% 2% Arizona Public Service 76% 257 24%

1% 0%