SME Announces Plan to Join MISO Move will result in greater reliability, efficiencies for Mississippi
CARMEL, Ind., Dec. 12, 2012 /PRNewswire/ -- South Mississippi Electric Power Association (SME) announced plans to join MISO, the regional grid operator, as a fully integrated transmission-owning member. SME provides wholesale electricity to 11 member-owned electric power associations in Mississippi.
SME owns more than 1,700 miles of transmission lines and provides service for more than 410,000 ultimate customers throughout Mississippi.
"We are pleased South Mississippi Electric determined that joining MISO along with other utilities in the region will provide value to its members," said John R. Bear, president and CEO of MISO. "Over the past year, MISO has worked closely with companies across the Southern region to demonstrate how MISO's large scale and established Day 2 market provide exceptional value to our members, and we welcome their membership."
SME General Manager and CEO James Compton signed the MISO Transmission Owners Agreement (TOA). The MISO TOA is a document all transmission-owning members sign when they join MISO. The TOA provides the terms under which transmission-owning members transfer the functional control of their transmission assets to MISO. The TOA also delineates the rights and responsibilities of the transmission owners, as well as those of MISO itself and of MISO's board of directors.
"SME's move to MISO means greater reliability and lower costs for its member systems and their customers," said Bear. "We are excited to continue working to integrate SME and other entities in the Southern region."
The application for membership will be presented to the MISO Board of Directors for consideration on Thursday. SME plans to integrate into MISO by December 2013.
MISO ensures reliable operation of, and equal access to high-voltage power lines in 11 U.S. states and the Canadian province of Manitoba. MISO manages one of the world's largest energy markets, with more than $23.6 billion in gross market energy transactions annually. MISO was approved as the nation's first regional transmission organization in 2001. The not-for-profit 501(C)(4) organization is governed by an independent Board of Directors and is headquartered in Carmel, Ind., with operations centers in Carmel and St. Paul, Minn. Membership is voluntary.