The Federal Energy Regulatory Commission (FERC) has announced its approval for the Southeast Energy Exchange Market (SEEM), which will enhance the existing market structure by developing competition and optimizing energy resources to serve customers efficiently.
SEEM not only provides an automated platform for energy transactions, allowing for short-term transactions across the region, but also enables energy from all sources to be priced fairly and dispatched effectively.
SEEM uses an otherwise unused transmission to enable short-term energy transactions, which do not incur transmission charges. The structure further enhances the advantages of an interconnected grid, delivering cost savings and efficiency gains to customers.
The SEEM market covers states from Florida to Missouri and represents a combined generation capacity of more than 180,000 MW, demonstrating the power of regional collaboration benefiting customers.
"We appreciate FERC's thoughtful consideration and unanimous support of this important initiative, "said Lee Xanthakos, SEEM chairman and director of electric transmission and system operations for Dominion Energy South Carolina. "The continued focus from FERC on fostering competition and ensuring a reliable, affordable energy future for the Southeast is critical to meeting the region's growing demands."
