The Southeast Energy Exchange Market (SEEM) on Nov. 9 announced that it has initiated operations.
The new SEEM platform will facilitate 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 meet qualifying requirements.
Founding members of SEEM 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, Santee Cooper, Southern Company, and TVA.
Four Florida energy companies - Duke Energy Florida, JEA, Seminole Electric Cooperative and Tampa Electric Company - have signed agreements to join as members of SEEM effective Jan. 1, 2023 and expect to initiate active energy trading in mid-2023.
With their addition, the SEEM footprint would include 23 entities in parts of 12 states with more than 180,000 MW (summer capacity; winter capacity is nearly 200,000 MW) across two time zones.