Release courtesy Duke Energy
Southeast Energy Exchange Market (SEEM) members filed with the Federal Energy Regulatory Commission (FERC) this month for approval of an automatic, intra-hour power change that goals to decrease prices to clients and optimize renewable power sources.
If accepted, the brand new platform could possibly be operational by early 2022. The members of SEEM embrace Duke Energy, Southern Co., Louisville Gas & Electric-Kentucky Utilities and the Tennessee Valley Authority, amongst others.
The FERC submitting and approval course of will present a chance for the members of SEEM to show the advantages of the proposed market design and for events to offer suggestions and feedback for FERC to think about.
The new SEEM platform will facilitate sub-hourly, bilateral buying and selling, permitting members to purchase and promote energy near the time the power is consumed, using out there unreserved transmission. The platform is an extension of the prevailing bilateral market.
The end result will likely be price financial savings and improved integration of all power sources, together with renewables, that are increasing quickly within the Southeast. This will result in a cleaner, greener, extra sturdy electrical energy system.
Founding members of SEEM are anticipated to incorporate Associated Electric Cooperative, Dalton Utilities, Dominion Energy South Carolina, Duke Energy Carolinas, Duke Energy Progress, Georgia System Operations Corporation, Georgia Transmission Corporation, LG&E and KU Energy, MEAG Power, NCEMC, Oglethorpe Power Corp., PowerSouth, Santee Cooper, Southern Company and TVA. Participation in SEEM is open to different entities that meet the suitable necessities. Some utilities will make choices about whether or not to commit following FERC approval.
The founding members characterize almost 20 entities in components of 11 states with greater than 160,000 MWs (summer season capability; winter capability is almost 180,000 MWs) throughout two time zones. These corporations serve the power wants of greater than 32 million retail clients (roughly greater than 50 million folks).
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