California power prices hit extremes amid solar surge and gas plant retirements

摘要

California endured extreme power prices in 2017 due to fluctuating renewable generation, highlighting the need for flexible backup capacity. However, the most populous US state also retired 3 GW of gas-fired capacity last year, the largest capacity shut-down in California’s history. California Independent System Operator’s department of market monitoring (CAISO DMM) said in its annual report, released this month, that power system prices fell below zero in more than 110 hours in 2017, all during midday hours in the first two quarters when solar and hydro generation peaked.