The Southeast Energy Exchange Market on June 28 said that Duke Energy Florida, JEA, Tampa Electric Company, and Gainesville Regional Utilities have initiated active energy trading, which now allows them to buy and sell power using the SEEM platform.
SEEM launched operations supporting enhanced energy trading in November 2022.
Duke Energy Florida, JEA and Tampa Electric Company joined as members of SEEM effective Jan. 1, 2023.
Gainesville Regional Utilities will be a non-member participant. JEA and Gainesville Regional Utilities are Florida public power utilities; Duke Energy Florida and Tampa Electric are investor-owned utilities.
Members have a seat on the SEEM Board and related committees and pay all operational, audit, administrative and legal expenses, which allows non-members to participate in SEEM at no cost.
During the first seven months of operation there have been more than 45,000 transactions representing more than 1 terawatt of power transacted across all Participants including transactions in 73% of all hours since market launch, SEEM said.
The SEEM platform facilitates automated, sub-hourly trading, allowing participants to buy and sell power close to the time the energy is consumed, utilizing available unreserved transmission. Participation in SEEM is open to any entity that meets the qualifying requirements set forth in the SEEM Agreement.
The SEEM footprint includes 23 entities in parts of 12 states with more than 180,000 MW (summer capacity; winter capacity is nearly 200,000 MWs) across two time zones.