MISO’s market design allows individual generator owners/operators to purse a plan of operations that allows their resources to meet the needs of their organizations taking into consideration the security needs of the bulk electric system. The aggregate result is a MISO wide operating plan that provides system-wide reliability while matching the operating and financial preferences of each individual asset owner. MISO’s market based system operations paradigm also serves the needs of wholesale load customers by delivering reliable electric energy while minimizing the consumption of regional resources. The combined result is least cost energy production over a fifteen state footprint.
The MISO’s market is comprised of 413 market participants serving about $42 million people; $32 billion annual gross market charges and about 178,396 MW of energy. With so much at stake, efficiency matters. That is why we continue to pursue and employ the most advanced technological and engineering tools in our markets that ensure the most reliable and economically efficient resource configuration is available to serve consumers throughout our footprint. Well-functioning and competitive energy markets incentivize innovation and efficiency. MISO recognizes the hallmark of successful markets is flexibility and situational awareness of dynamic industry drives and policy changes.
In 2014, MISO stakeholders produced the inaugural edition of the Market Vision Program. This program focused on projects and process improvements that enhance efficiency and create better transparency for the people who depend on our markets. During this process, stakeholders and the Independent Market Monitor provided what they believed to be necessary to achieve a well-functioning market. Three core elements surfaced: maximize regional value, consider disparate stakeholder interest and meet or exceed system reliability standards. These elements evolved into a set of five guiding principles. Market enhancement projects that moved forward for evaluation aligned with one or more of these principals. Check out the 2014 Market Vision Books. For more information on MISO’s market vision efforts, visit the Market Enhancement webpage or join us at the next Market Subcommittee meeting.
With the Market Vision foundations in place, MISO kicked off a process of continued identification and prioritization of initiatives and progress evaluations at the June 2, 2015 Market Subcommittee. At the July 7th Market Subcommittee, stakeholders were presented with the full compilation of the 2017 to 2019 Market Roadmap Candidate Report Cards, present stakeholder candidate report feedback, and kick off prioritization steps for the market roadmap process. State regulatory staff participation is needed as we tweak our market processes to make them better and more efficient.
Entergy Regional State Committee: New Officers and August Meeting Set
At the May 2015 Entergy Regional State Committee meeting in New Orleans, the committee filled two of its vacant officer positions. Erik Skrmetta, Louisiana Public Service Commission, was elected Vice President and Ted Thomas, Arkansas Public Service Commission, was elected as the Secretary. The next meeting of the ERSC will be held in Little Rock, Arkansas on August 11. Find ERSC meeting information on the ERSC page in the Stakeholder Center of the MISO website.