The Western Energy Imbalance Market (WEIM) is a regional wholesale real-time energy market that automatically dispatches low-cost electricity resources while optimizing the use of renewable energy over a large geographical area. By participating in the WEIM, balancing authorities in the Western Interconnection can utilize the California ISO’s (CAISO’s) real-time energy market platform while maintaining control of their respective transmission systems.

The governance structure includes a regionally minded and independent Western EIM Governing Body (Governing Body) with delegated authority regarding energy imbalance-related CAISO tariff rules. The Governing Body has “joint authority” over any CAISO tariff rules that are applicable to the regional energy imbalance market balancing authority areas or WEIM Entities (i.e., WEIM market participants). This authority is “joint” in the sense that it is shared with the CAISO’s Board of Governors – the board overseeing the market rules and operations of the ISO in California – and that both the Governing Body and the Board of Governors must approve a tariff change before it can be filed at the Federal Energy Regulatory Commission (FERC). The Governing Body also has “advisory authority” on proposals to change or establish tariff rules that apply to the CAISO’s real-time market, but that are not within the scope of joint authority. Advisory authority means that the Governing Body advises the Board of Governors on a proposed tariff change. The substance of the advisory opinion will be included in any associated FERC filing.

To further enhance its decision-making process under joint authority, the Governing Body is seeking a Governing Body Market Expert (Market Expert) to advise it on ongoing energy market design issues. For this position, qualified candidates must meet independence requirements that follow FERC’s requirements related to RTOs and ISOs.

Job Overview:

The Market Expert will provide comprehensive explanations and technical opinions, as requested by the Governing Body, to aid it in making well-informed decisions.  Additionally, the Market Expert will provide routine market-related analysis and reports as specified by Governing Body.

Responsibilities and Duties:

• Produce reports and opinions and evaluate the fairness and efficacy of proposed market rule changes, business practices, market operations and price formation.
• Support the Governing Body in understanding complex market topics.
• Provide information on best practices from other markets.
• Deliver oral presentations as requested at Governing Body general session meetings.
• As directed by the Governing Body, work with CAISO staff and other sources to gather necessary data and information to produce opinions and reports.
• Ensure neutral and unbiased opinions and reports.
• Ensure opinions and reports are timely, concise, and easy to understand.

• Extensive experience and knowledge of energy market rules, price formation and operations.
• Knowledge of various organized market frameworks, including RTOs/ISOs (e.g., the CAISO, the WEIM, MISO, SPP, NYISO, ISO-NE, PJM and ERCOT).
• Knowledge of the Western Interconnection, including the difference between the bilateral and locational marginal pricing (LMP) models.
• Knowledge of FERC market oversight and rules.
• Meet independence requirements, e.g., independence from the CAISO (other than this engagement) and its stakeholders, WEIM market participants, and WEIM stakeholders.

Other Considerations:

• The Market Expert will contract directly with the CAISO but will receive assignments and take direction from the Governing Body.  Additionally, the Governing Body will oversee and evaluate the Market Expert’s performance.
• It is expected that the Market Expert will be on a retainer that is based on an agreed upon number of hours of engagement per calendar year.  Work exceeding the minimum would be paid at an agreed upon hourly rate.
• This is an independent contractor position and, therefore, the Market Expert will not be an employee of the CAISO.  The individual or firm consulting for the Governing Body in this capacity will be responsible for its own legal, financial, and operational obligations. 

How to Apply

• Please provide a resume, statement of interest, and any other relevant work examples that reflect your experience as it relates to the position’s requirements.
• Application must be submitted no later than 5:00 pm PST on January 28, 2022 in order to be considered.
• Once the application period closes, a CAISO representative will contact you regarding next steps.