Members of the Southeast Energy Exchange Market (SEEM) recently offered changes to an automated, intra-hour energy exchange proposal the group previously submitted to the Federal Energy Regulatory Commission (FERC) that they said will create greater oversight ability for FERC and more transparency for all participants.
The group said that the greater oversight ability for FERC will come via weekly, confidential submissions of significant data on the SEEM market operation. The increased transparency for all participants comes from commitments and clarifications around public posting of auditor reports and responses to regulatory inquiries, the group said.
SEEM members initially sought FERC approval of the automated, intra-hour energy exchange in a Feb. 12, 2021 filing.
The SEEM platform is an extension of the existing bilateral market in the Southeast. Its design 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.
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;
- N.C. Municipal Power Agency Number 1;
- Oglethorpe Power Corp.;
- Santee Cooper;
- Southern Company; and
- The Tennessee Valley Authority
Participation in SEEM is open to other entities that meet the appropriate requirements and some utilities will make decisions about whether to commit following FERC approval.
The founding members represent nearly 20 entities in parts of 11 states with more than 160,000 megawatts (summer capacity) across two time zones. They serve the energy needs of more than 32 million retail customers.