Duke Energy Florida among four to ink energy trading membership
Duke Energy Florida is one of four Floridian energy companies to sign agreements and join as members of the Southeast Energy Exchange Market (SEEM).
Duke Energy Florida, JEA, Seminole Electric Cooperative and TECO Energy joined the expanded platform and expect active energy trading in mid-2023.
“These companies see SEEM as a platform to help save their customers money and better integrate renewable resources, while ensuring customers across the region realise the promise of renewables,” said Noel Black, Southern Company’s senior vice president of governmental affairs. “We welcome these Florida entities and continue on track with market trials to prepare for market launch in the coming weeks.”
With the addition of these Florida companies, the SEEM footprint would include 23 entities in parts of 12 states with more than 180,000MWs (summer capacity; winter capacity is nearly 200,000MWs) across two time zones.
SEEM aims to facilitate sub-hourly, bilateral trading, allowing participants to buy and sell power close to the time energy is consumed, utilising available unreserved transmission.
The platform sees two third-party independent entities implement, manage and oversee operation of the SEEM market: a platform administrator and an auditor.
The auditor will monitor the functioning of the platform and has authority to submit reports without prior review or approval of SEEM members. FERC (Federal Energy Regulatory Commission) provides oversight for all wholesale bilateral transactions, including SEEM activity, and all FERC public reporting must continue.
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In addition, SEEM will regularly post (daily, monthly, and quarterly) reports of data aggregated by the SEEM platform on a public web site.
Other 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
- N.C. Municipal Power Agency No. 1
- NCEMC
- Oglethorpe Power Corp.
- PowerSouth
- Santee Cooper
- Southern Company
- TVA
The companies serve the energy needs of more than 36 million retail customers (nearly 60 million people).
Membership of the four utilities will be effective January 1, 2023. Participation in SEEM is open to other entities that meet its requirements.
