With more than three years of MISO partnership on the books, members in the South region are talking about the savings created through access to low-cost, reliable energy from the grid.
At a news conference hosted by the Mississippi Public Service Commission in late June, commissioners applauded the value of the MISO partnership for energy customers in the Magnolia State.
“The Public Service Commission is committed to reducing the cost of electricity in Mississippi,” said Mississippi PSC Chairman Brandon Presley. “By having access to electric power in other markets through MISO, we drive down the cost of living and grow the state’s economy.”
For example, in Mississippi, Entergy reports it has saved about $118 million in the past three years through its MISO membership. Cooperative Energy, which serves about a million people through 11 member distribution systems in Mississippi, said it has been able to save around $140 million through the MISO partnership.
“The $140 million savings is significant for our members and validates our Board’s decision to pursue MISO membership,” said Jim Compton, Cooperative Energy president and CEO in a news release issued by the Mississippi PSC. “As a not-for-profit electric utility, these savings directly result in lower rates for our members. In addition to cost savings, membership in MISO has provided additional benefits such as better overall market transparency and improved transmission planning processes which will provide better transmission reliability over the long-term.”
Elsewhere in the South, Entergy reported its New Orleans customers have saved about $36 million and its Texas customers about $52 million over the past three years.
“Our membership in MISO has been a highly effective tool in helping us control costs and keep our rates low,” said Sallie Rainer, Entergy Texas president and CEO in a company news release. “We believe our participation in MISO will continue to produce significant savings in the years ahead, helping keep energy costs well below the national average so we can continue to help grow southeast Texas’ economy.”
“We are extremely proud to help our members across the South deliver affordable and reliable power to the customers they serve,” said Kent Fonvielle, executive director for MISO South. “Our focus every day is on creating greater value for our member partners and ultimately savings for their customers by providing access to the lowest-cost and most reliable energy resources. We look forward to our continued partnership and increased benefits in the years ahead.”