Optimizing Carbon Market Mechanisms in the Western Interconnect
Event Description and Agenda:
The energy market in western North America is preparing for increased collaboration and cross-border power swapping. Utilities in states neighboring California (and beyond) have already joined or announced their intention to join the California energy imbalance market (EIM), a recent initiative to trade electricity in real-time intervals to help manage the challenges of renewable integration. Other power organizations in the Pacific Northwest are assessing their options to achieve similar benefits through more organized sharing arrangements. As these western power flows integrate more, it becomes increasingly important for utilities, merchant power and transmission operators to understand and plan for existing and future carbon reduction requirements in the U.S. — and California specifically — with regard to:
- AB 32, California's signature climate-change law from 2006 that required the California Air and Resources Board (ARB) to formulate a plan that would bring greenhouse gas (GHG) emissions to 1990 levels by 2020. This resulted in a range of GHG emission reduction programs, including a cap-and-trade program that was introduced in 2013.
- SB 32, the would-be ‘son of AB 32' to further cut carbon dioxide emissions beyond the level required by AB 32 to 80 percent below 1990 levels, no later than 2050. The bill, rejected in 2015, is expected to be re-considered in the 2016 legislative session.
- SB-350, recently passed by California in September 2015, extends California's renewable portfolio standard (RPS) from 33 percent by 2020 to 50 percent by 2030
- The U.S. EPA's Clean Power Plan (CPP) is moving forward on a national level to implement the EPA's emission objectives, which are to reduce carbon dioxide from power generation by 32 percent within 15 years relative to 2005 levels and would require individual states to submit plans for specific carbon reduction standards.
- California's Cap-and-Trade Program which — despite its fairly recent formation — is already expanding to accommodate new national and international signatories, and could be a significant tool in helping other states and regions achieve the EPA's CPP targets
Thus, this conference is designed as a forum for stakeholders operating in the California market and larger western interconnect region to plan, strategize and collaborate for an optimal future carbon market future. It will examine how existing and future measures will impact western electric and gas utilities, power organization operations and markets developments going forward. Finally, it will emphasize how utilities, independent power producers, and other entities are adjusting their business models — and working together — to comply with future regulations that reduce the impact of power generation on climate change.
Wednesday, January 20, 2016
7:30 - 8:00 a.m. :: Registration & Continental Breakfast
I. Setting the Stage: Carbon Policy Measures and Impacts on Resource Strategies: Now and Post-2020
10:30 - 10:45 a.m. :: Morning Break
II. Cap-and-Trade: Economic Update, Market Optimization, and Future Linkage Opportunities
12:15 - 1:15 p.m. :: Group Luncheon
3:45 - 4:00 p.m. :: Afternoon Break
III.Implications of Carbon Policy and Market Integration in the Western Interconnect
January 21, 2016
7:30 - 8:00 a.m. :: Continental Breakfast
10:15 - 10:30 a.m. :: Morning Break
11:45 a.m. :: Conference Adjourns