MISO's Resource Adequacy Proposal Adds New Benefits for its Members and Their Customers
MISO's proposed construct enhancements will improve wholesale energy market transparency and efficiency while maintaining existing Value Proposition benefits
CARMEL, Ind., July 21, 2011 /PRNewswire/ -- MISO filed yesterday with the Federal Energy Regulatory Commission (FERC) its enhanced resource adequacy construct that will provide even more benefits to its members and the customers they serve.
Through ongoing collaboration and dialogue with all stakeholder groups, MISO developed a modified construct which is designed to address the unique need of utilities operating in retail choice states, while also respecting and building on the success regulators in traditionally regulated states have built with resource adequacy planning programs under their jurisdiction.
"Improving our resource adequacy construct remains critical in order to continue delivering value to our members and their customers and stakeholders amongst significant industry challenges," said John Bear, President and CEO of MISO. "I want to applaud the hard work and commitment of both our stakeholders and our staff who developed this filing."
One of the key recommendations in MISO's proposal is implementing market mechanisms to address zonal deliverability and improved reliability, along with a permanent approach to demand response and behind-the-meter generation participation. Another enhancement extends the term from a monthly to an annual term in order to increase efficiencies and better align with current planning processes. With that, the first annual capacity auction would be in April 2013 for the June 2013 to May 2014 planning year.
"Our resource adequacy enhancement proposal maintains the existing benefits while also adding new benefits for our members and their customers and the MISO footprint," said Richard Doying, Vice President of Operations. "We are confident that this filing will satisfy our compliance obligation with FERC while also reflecting the unique characteristics of our companies and markets."
Benefits of the proposed construct include improved reliability, complimenting state planning processes, increased market efficiency and transparency, as well as incorporating energy efficiency. In addition, MISO continues its work to increase capacity portability and market efficiency across market seams.
MISO has asked FERC for an extended comment period to enable parties to file comments with FERC before September 15, 2011. To ensure that the enhancements outlined in the filing can be implemented, MISO has requested a FERC order no later than February 29, 2012.
About MISO
MISO ensures reliable operation of, and equal access to high-voltage power lines in 12 U.S. states and the Canadian province of Manitoba. MISO manages one of the world's largest energy markets, clearing more than $25 billion in energy transactions in 2010. MISO was approved as the nation's first regional transmission organization in 2001. The non-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 in the organization is voluntary.
SOURCE MISO
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