CARMEL, Ind., June 10, 2016 /PRNewswire-USNewswire/ -- The Organization of MISO States (OMS) and MISO released the results of their annual resource adequacy survey. The results indicate that the MISO region has adequate capacity for 2017 with potential shortages in 2018 and beyond.
The assessment shows that the region should be able to meet the expected peak demand for electricity with an adequate safety margin for 2017. The survey shows that a surplus of 2.7 gigawatts (GW) is available; this surplus could be reduced to 0.9 GW if recently announced generation retirements and suspensions in Southern Illinois materialize. If these retirements proceed as announced, available resources could fall below minimum required reserve margin levels as early as 2018.
"Retirements in excess of new generation are driving supply to tighten in the region," said John Bear, the CEO of MISO. "We will continue to support our State regulators and members as they take necessary actions to ensure continued resource adequacy in 2018 and beyond," he added.
The survey also indicates certain locations within the MISO region will fall below reserve margin requirements in 2017. These areas should be able to import needed capacity from neighboring zones to meet their requirements, a regional benefit of being part of the MISO region.
Each year, OMS and MISO conduct a forward looking survey of its members to provide a view into the balance of supply and demand in the region for the future years. This forward-looking view informs and enables collective actions by States and MISO members to ensure continued resource adequacy.
"State and local authorities and regulated utilities undertake rigorous planning efforts to ensure future resource adequacy," said Sally Talberg, President of OMS and Chair of the Michigan Public Service Commission. "The OMS-MISO survey is a great tool and provides a useful snapshot in time for these active planning efforts."
Announced retirements as well as resources located in MISO, but committed to other markets, could play a significant role the region's ability to meet future capacity needs. Additionally, steps to build new generation continue.
In the MISO region, Load Serving Entities, with oversight by the States as applicable by jurisdiction, are responsible for resource adequacy.
Organization of MISO States
The Organization of MISO States, Inc. (OMS) is a non-profit, self-governing organization of representatives from each state with regulatory jurisdiction over entities participating in the Midcontinent Independent System Operator, Inc. (MISO), a regional transmission organization as defined by the Federal Energy Regulatory Commission (FERC). The purpose of the OMS is to coordinate regulatory oversight among the states, including recommendations to MISO, the MISO Board of Directors, the FERC, other relevant government entities, and state commissions as appropriate.
MISO ensures reliable operation of, and equal access to, high-voltage power lines in 15 U.S. states and the Canadian province of Manitoba. MISO manages one of the world's largest energy markets, with more than $24.7 billion in annual gross market energy transactions. MISO was approved as the nation's first regional transmission organization in 2001. The not-for-profit organization is governed by an independent board of directors and is headquartered in Carmel, Indiana.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/reserves-tighten-in-the-miso-region-300282963.html