Goals Drive Value Creation

After a celebratory group photo, the planning committee and I were able to step back and appreciate the result of months of hard work.  Women IN Energy held its third annual conference in late October gathering energy professionals from across several sectors to discuss innovation, technology and the role women play in the industry. This small but mighty group of planning committee members consists
EXERCISE – EXERCISE – EXERCISE: “Five million people are without power across the Eastern United States in what is being described as a coordinated physical and cyber attack against the bulk power system.”

 On November 13-14, MISO reenacted a scenario similar to this fictional headline. Thankfully it was not real but was part of an important biannual NERC-sponsored grid security exercise known
In four filled conference rooms on Veterans Day 2019, MISO employees gathered with over 35 self-identified MISO employee-veterans to honor them for their service to this country. The “MISO Thanks Its Veterans” event, held at Carmel, Eagan and Little Rock provided a great opportunity for the MISO employee-veterans to receive the thanks they so richly deserve.

John Bear spoke to the MISO employees
MISO recently filed proposed Tariff revisions to implement the market procurement of Short-Term Reserves. Short-Term Reserve may be provided by online resources and offline resources that can come online and produce energy within 30 minutes. The Short-Term Reserve product design leverages features from existing reserve products, but is a separately cleared product serving Local, Sub-Regional, and Market-Wide
In this customer-centric world, customer ratings matter; customer experiences matter even more. The successful enterprise consistently asks its customers about their recent experiences or interactions with that enterprise. It puts the customer at the center of its focus as it decides how to improve and enhance its services.  Whether you are a hospital, restaurant or electric company, your interactions
2020. A new year has begun. In January, many people start the year by identifying goals or making resolutions that aim for a better life such as exercising, losing weight and spending more time with family and friends. MISO is no different. The leadership of MISO has established annual incentive goals to address the challenges that lie ahead in this dynamic energy environment. These 2020 goals embrace the vision of MISO: to be the most reliable, value-creating RTO.

John Bear, MISO CEO, recently shared with MISO employees the company’s 2020 Annual Incentive Goals. These goals measure reliability, important customer service standards, financial standards, operations, and efficiencies. The MISO Core Values (integrity, commitment, collaboration, creativity, and adaptability) are critically important to how well MISO drives value creation for its stakeholders. Over the last 10 years, improvements in performance measured by these metrics has led to hundreds of millions of dollars in value to MISO stakeholders. Specifically, Improvement in Unit Commitment Efficiency over the previous 14 years is estimated to save stakeholders between $125 million and $190 million. Also, Improvement in Market Efficiency over the previous 12 years is estimated to save stakeholders between $400 million and $600 million.

In his communication to MISO employees, Bear stated, “There are a number of evolutionary changes to our plan metrics in 2020. These changes are the outcome of significant efforts to improve performance tracking and identify additional opportunities to drive value creation.” MISO offers a results-focused compensation plan for its employees, which ties to certain measurable results.

Here are the 2020 MISO Annual Incentive Goals and Metrics:

Operations Metrics:

  • Reliability, Compliance and Security
  • Unit Commitment Efficiency
  • Markets Efficiency
  • System Availability
  • Financial Control
  • Customer Service

Strategic Engagement:

  • Market System Enhancements
  • Reliability System Enhancements
  • MISO Forward Initiatives.

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