California ISO Employs Siemens Energy Market Management Software to Operate the Growing Energy Imbalance Market

• Western U.S. Energy Imbalance Market (EIM) will generate millions in cost savings and reliable use of renewables such as solar and wind
• Siemens software projects exact power generation and demand on the grid, allowing market participants to buy or sell the most efficient, lowest cost generation
• Arizona Public Service latest utility to announce participation in EIM
• EIM has produced over $11 million in cost savings to date

MINNETONKA, Minn.--(BUSINESS WIRE)-- Siemens has developed and implemented energy market management software to support the operation of the growing western Energy Imbalance Market (EIM). The real-time EIM was launched by the California Independent System Operator Corporation (ISO) in November 2014 and allows utilities across a broad footprint to more efficiently exchange and share energy resources, including renewables like wind and solar, based on generation and demand needs. Siemens software is a key component of the EIM system that allows the ISO to analyze the energy requirements of the grid every five minutes and automatically determine the lowest-cost generation to meet demand while maintaining the security of the grid. The software provides system operators greater insight into the power grid to monitor generation and demand across the entire six-state EIM region.

“The ISO remains on the cutting edge of transforming the grid into one that more easily adapts to changing technology and efficiently leverages renewable resources such as wind and solar,” said Steve Berberich, ISO President and CEO. “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. We truly appreciate our partnership with Siemens in helping us to deploy advanced technology to unlock those benefits.”

“Siemens has partnered with the ISO for a number of years to provide software that helps efficiently run the energy markets and securely manage generation and demand on the power grid,” said Ravi Pradhan, chief technology officer of Siemens Smart Grid Solutions and Services. “We are proud to have worked with the ISO in implementing their innovative strategies to accommodate renewables into the grid, which allows participants to benefit and accrue real savings.”

According to a February 2015 report, the EIM resulted in $5.97 benefits in the fourth quarter of 2014. A subsequent report in April 2015 shows $5.26 million in benefits for the first quarter of 2015. This resulted in a benefit of over $11 million in five months for the ISO and its first and current participant, Pacificorp, whose serves customers in six western states—California, Oregon, Washington, Utah, Idaho and Wyoming. Additional EIM participation will show even greater benefits as the resource pool expands with greater amounts of cost effective power.

As a measure of the growing recognition of the benefits of the EIM, Arizona Public Service (APS) has announced they will be joining in October 2016. APS is expected to achieve $7 million to $18 million in energy production savings per year according to an assessment by Energy and Environmental Economics, Inc. Las Vegas-based NV Energy plans to begin participating later this year, while Puget Sound Energy in Washington and Arizona Public Service, which is based in Phoenix, have announced that they enter the market in fall 2016.

This press release and press pictures/further material are available at http://news.usa.siemens.biz/.

For further information on Siemens Energy Market Management software, please see http://w3.usa.siemens.com/smartgrid/us/en/transmission-grid/solutions/energy-market-management/Pages/emm.aspx.

Follow us on Twitter at: www.twitter.com/siemens_press

Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 165 years. The company is active in more than 200 countries, focusing on the areas of electrification, automation and digitalization. One of the world’s largest producers of energy-efficient, resource-saving technologies, Siemens is No. 1 in offshore wind turbine construction, a leading supplier of combined cycle turbines for power generation, a leading provider of power transmission solutions and a pioneer in infrastructure solutions and automation and software solutions for industry. The company is also a leading supplier of medical imaging equipment – such as computed tomography and magnetic resonance imaging systems – and a leader in laboratory diagnostics as well as clinical IT. In fiscal 2013, which ended on September 30, 2013, revenue from continuing operations totaled €75.9 billion and income from continuing operations €4.2 billion. At the end of September 2013, Siemens had around 362,000 employees worldwide on the basis of continuing operations. Further information is available on the Internet at www.siemens.com.

Siemens Corporation is a U.S. subsidiary of Siemens AG, a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 165 years. With 343,000 employees in more than 200 countries, Siemens reported worldwide revenue of approximately $98 billion in fiscal 2014. Siemens in the USA reported revenue of $22.2 billion, including $5.2 billion in exports, and employs approximately 46,000 people throughout all 50 states and Puerto Rico.

View source version on businesswire.com: http://www.businesswire.com/news/home/20150602005303/en/

Media:
Siemens Corporation
Annie Seiple, 202-316-0219
[email protected]

Source: Siemens Corporation

You May Also Be Interested In

• Apple (AAPL) announces 'Let Loose,' a special online event to be held in May
• Kering: Press release - First-quarter 2024 revenue
• BIC: First Quarter 2024 Results