Santee Cooper, South Carolina’s state-owned electric and water utility, has joined the Southeast Energy Exchange Market (SEEM) effective Jan. 4, 2022.
“After nearly two years working with the other SEEM member utilities, Santee Cooper is pleased to formally join the group. We are excited by the opportunities SEEM will offer our customers, including better capability for integrating renewables and savings from lower fuel costs and improved efficiencies,” said Charlie Duckworth, Santee Cooper Deputy CEO and Chief Innovation and Planning Officer, in a statement.
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.
Participation in SEEM is open to other entities that meet the appropriate requirements.
Other 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 No. 1, NCEMC, Oglethorpe Power Corp., PowerSouth, Southern Company and TVA.
The founding members represent nearly 20 entities in parts of 11 states with more than 160,000 megawatts (summer capacity; winter capacity is nearly 180,000 MW) across two time zones.