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The first day of the month is good time for subscribers to our Platinum Plus Renewables package to zoom out a bit from the day-to-day data feeds and check in on the monthly summary data provided on the CAISO Monthly Battery dashboard. In this article, we’ll look at a few of the charts and tables from that dashboard and review some of the high-level trends that have been unfolding in the CAISO battery space.
First up, regulation prices continue to taper downwards, especially when considering the strong gas prices that prevailed from roughly May 2022 through April 2023. Higher gas prices across those months normally would have resulted in higher ancillary prices, but those would-be gains were offset by a rapidly expanding battery fleet, among other factors.
Figure 1 | Monthly CAISO Regulation Prices by Region
While regulation prices in NP26 held strong for a while due to low rates of battery installations, they have been collapsing down closer to the SP26 levels since May 2022......
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