CARMEL, Ind., Nov. 15, 2012 /PRNewswire/ -- Today, Entergy's integration into MISO took another major step forward as the Mississippi Public Service Commission (MPSC) and New Orleans City Council granted the regulatory approvals necessary for Entergy to transfer functional control to MISO. The action by both regulatory bodies establishes the opportunity for customers throughout the Entergy region to realize the benefits provided by MISO membership.
"Today's decisions continue the momentum for Entergy's integration into MISO," said John R. Bear, President and CEO of MISO. "With regulatory approvals in hand, this gives certainty to market participants, and we stand ready to ensure they are prepared for a full integration of Entergy by December 2013."
In the Mississippi proceeding, the MPSC staff, the South Mississippi Electric Power Association (SMEPA) and the Municipal Energy Agency of Mississippi (MEAM) acknowledged the benefits available to Mississippi electric customers. Additionally, Entergy New Orleans reached a settlement agreement with the City Council staff finding that the move to MISO was in the public interest.
"MISO appreciates the hard work and due diligence by the commissioners, council members, staff and all the parties in these proceedings," added Bear. "We look forward to continuing these productive relationships as we move forward with the technical integration of the region."
Entergy Mississippi has estimated that, as a result of MISO membership, $284 million in benefits will be available to Mississippi electric customers over a 10-year period. Entergy New Orleans expects to see savings of $46 million over a 10-year period. Entergy will have access to MISO's proven Day 2 market, which provides reliable, efficient and economic dispatch of electricity.
MISO will continue its proactive customer outreach efforts, including training and education during and after the transition to MISO. This includes working with state regulatory officials and staff, industrial customers, municipals and cooperatives, retail electric providers and Entergy on the business decisions all entities will make to participate in MISO's markets.
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.