CARMEL, Ind. — Today, the Midcontinent Independent System Operator (MISO) and the Organization of MISO States (OMS) released the results from the eighth OMS-MISO survey. The survey projects adequate reserve margins for 2022 across the MISO region, but uncertainty increases in 2023 and beyond. Therefore, continued actions will be needed to ensure resource adequacy in the extended outlook. MISO hosted a stakeholders workshop to discuss the survey results today.
OMS and MISO conduct the annual voluntary survey to assess available resource capacity to serve projected load over the next five years. The 2021 results were measured by the unit’s availability, also known as unforced capacity (UCAP) which aligns with other MISO resource adequacy processes. This replaces the previous method of measuring a unit’s installed capacity (ICAP).
For 2022, the MISO region is projected to have between 3.4 – 13.9 GW of capacity (UCAP) in excess of the 2022 regional Planning Reserve Margin (PRM), based on responses from over 97% of MISO load and other non-load serving entities (LSE) market participants. The lower end of that range is based on relatively certain “committed capacity,” while the upper end of that range includes less certain “potential” resources.
“This year’s survey once again shows that states and their utilities are taking the actions necessary to ensure resource adequacy within their jurisdictions, which collectively leads to sufficient resources being available across the MISO footprint,” Julie Fedorchak, president of the Organization of MISO States and chairperson of the North Dakota Public Service Commission, said. “This survey provides a useful view of the rapid changes that are occurring. It is a valuable tool for states and utilities to use in order to ensure that, together, we are covering the resource needs of the region and maintaining reliability and resilience during this time of significant transformation and uncertainty.”
For 2023, the MISO region’s committed capacity is projected to be essentially equal to the PRM. Beyond 2023, MISO’s is projected to need approximately 2 – 4 GW of less certain potential resources to satisfy its PRM. This pattern is similar to previous years’ results.
“We appreciate our partnership with OMS on this survey which continues to highlight the potential uncertainty our footprint faces and provide insight to help guide our Response to the Reliability Imperative,” said John Bear, MISO’s chief executive officer. “Our work around the Reliability Imperative supports state resource adequacy actions that help ensure sufficient electric resource availability. This is critical given a rapidly evolving generation fleet and the potential for extreme weather events and increasing power demand.”
“We are focused on working with our members and OMS to address uncertainty in the regional resource picture as our collective generation fleet continues to evolve,” explained Shawn McFarlane, executive director – market operations at MISO. “We appreciate the collaborative efforts of our members and OMS in developing this view of resource adequacy in MISO.”
Details on the 2021 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.