Members of the Southeast Energy Exchange Market (SEEM) on Feb. 12 filed with the Federal Energy Regulatory Commission (FERC) for the approval of an automated, intra-hour energy exchange.
The FERC filing and approval process will provide an opportunity for the members of SEEM to demonstrate the benefits of the proposed market design and for interested parties to provide feedback and comments for FERC to consider, according to a news release related to the filing.
Founding members of SEEM are expected to include:
- 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;
- Oglethorpe Power Corp.;
- Santee Cooper;
- Southern Company; and
Participation in SEEM is open to other entities that meet the appropriate requirements. Some utilities will make decisions about whether to commit following FERC approval.
The new SEEM platform will facilitate sub-hourly, bilateral trading, allowing participants to buy and sell power close to the time the energy is consumed, utilizing available unreserved transmission. The platform is an extension of the existing bilateral market.
The result will be cost savings and improved integration of all energy resources, including renewables, which are expanding rapidly in the Southeast, the news release said.