CARMEL, Ind. — Today, the Midcontinent Independent System Operator (MISO) and the Organization of MISO States (OMS) released the results from the ninth annual OMS-MISO survey.
The survey results indicate having a potential capacity deficit of 2.6 GW, or 2.4 GW surplus, compared to the 2023 Planning Reserve Margin Requirement depending on market responses between now and the Summer of 2023. The overall results align with MISO’s 2022 Planning Resource Auction results and recent Summer Assessment which both indicated tightening conditions, primarily in MISO North/Central subregions.
For Summer 2023, the potential capacity deficit of 2.6 GW already reflects 1.9 GW of transfers from within MISO. Non-firm imports from neighboring regions are typically available and will likely be needed next summer. New capacity and/or deferred retirements may also be required to meet overall footprint requirements.
“This survey provides critical information on the rapid changes occurring with our resource mix. Visibility into this type of information is essential for states and utilities to ensure we will be able to cover the resource needs of the region going forward and maintain reliability.” Sarah Freeman, president of the Organization of MISO States and commissioner with the Indiana Utility Regulatory Commission, said. “States stand ready to work with MISO to ensure state resource planning and MISO market signals work in concert to maintain reliability and resilience throughout this significant resource transformation.”
OMS and MISO conduct the annual voluntary survey to assess available resource capacity to serve projected load over the next five years (i.e., 2023 through 2027). MISO hosted a stakeholder workshop to discuss the survey results today.
“As we reflect on our ninth survey together, the results are a critical tool in helping us manage the uncertainty and volatility of the resource transition and reinforce our Response to the Reliability Imperative,” said John Bear, MISO’s chief executive officer. “We support state resource adequacy efforts and collaborate to provide a snapshot in time of what we need and what is available.”
For 2024 and beyond, the capacity deficits are projected to widen, consistent with past surveys, due to declining committed capacity and modestly growing demand. Therefore, continued actions will be needed to ensure resource adequacy in the extended outlook. Details on the 2022 OMS-MISO survey are available on MISO’s website.
About Organization of MISO States
The Organization of MISO States Inc. is a non-profit, self-governing organization of representatives from each state with regulatory jurisdiction over entities participating in the Midcontinent Independent System Operator, Inc. (MISO), a regional transmission organization as defined by the Federal Energy Regulatory Commission (FERC). The purpose of the OMS is to coordinate regulatory oversight among the states, including recommendations to MISO, the MISO Board of Directors, the FERC, other relevant government entities and state commissions as appropriate.
Midcontinent Independent System Operator (MISO) is an independent, not-for-profit organization that delivers safe, cost-effective electric power across 15 U.S. states and the Canadian province of Manitoba. MISO is committed to reliable, nondiscriminatory operation of the bulk power transmission system and collaborating with all stakeholders to create cost-effective and innovative solutions for our changing industry. MISO operates one of the world’s largest energy markets with nearly $22 billion in annual gross market energy transactions.